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UBS plans buffered return enhanced notes tied to S&P 500 via JPMorgan
By Susanna Moon
Chicago, July 10 - UBS AG, London Branch plans to price 0% buffered return enhanced notes due July 31, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of about 12.6%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
UBS Investment Bank is the underwriter, and JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
The notes will price on July 13 and settle on July 18.
The Cusip number is 902674KY5.
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