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UBS plans market plus notes linked to Energy Select Sector SPDR fund
By Angela McDaniels
Tacoma, Wash., Sept. 18 - UBS AG, London Branch plans to price 0% market plus notes due March 26, 2014 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the fund's closing share price is less than the initial price by more than 25% on any day during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of the fund return and 0.5%. If a knock-out event does occur, the payout will be par plus the fund return, which could be positive or negative.
The notes are expected to price Sept. 21 and settle Sept. 26.
UBS Investment Bank is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers.
The Cusip number is 902674LP3.
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