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UBS plans contingent absolute return autocallables on Hewlett-Packard
By Toni Weeks
San Luis Obispo, Calif., April 8 – UBS AG, London Branch plans to price 0% contingent absolute return autocallable optimization securities due April 18, 2016 linked to Hewlett-Packard Partners Inc. shares, according to an FWP with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 9% to 11% if Hewlett-Packard shares close at or above the initial price on any quarterly observation date. The exact call premium will be set at pricing.
If the notes are not called and the final share price is greater than or equal to the trigger price, 80% of the initial price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock decline.
The notes (Cusip: 90274P831) will price April 10 and settle April 15.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
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