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UBS plans contingent-return optimization notes linked to Russell 2000
By Jennifer Chiou
New York, May 1 - UBS AG, London Branch plans to price 0% contingent-return optimization securities due Nov. 30, 2016 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.
If the final index level is greater than or equal to the trigger level, 75% of the initial level, then the payout at maturity will be par of $10 plus the greater of 6% and the index return, subject to a maximum return of 19% to 25% that will be set at pricing.
If the final index level is less than the trigger level, investors will be exposed to the index's decline from its initial level.
The notes (Cusip: 90272X224) are expected to price on May 27 and settle on May 30.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
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