By E. Janene Geiss
Philadelphia, Feb. 26 - UBS AG priced a $6.37 million issue of 0% performance securities with contingent protection due Feb. 28, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index return is positive, the payout at maturity will be par of $10 plus 122.5% of the index gain.
If the final index return is negative, the payout will be par unless the index falls by more than 50% during the life of the securities, in which case investors will be fully exposed to the index decline.
UBS Investment Bank and UBS Financial Services, Inc. are the underwriters.
Issuer: | UBS AG
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Issue: | Performance securities with contingent protection
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Underlying index: | S&P 500
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Amount: | $6,374,760
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Maturity: | Feb. 28, 2014
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 122.5% of any index gain; par if final index return is negative but index never fell below the trigger level; full exposure to any index decline if index fell below the trigger level
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Initial index level: | 773.14
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Trigger level: | 386.57, 50% of initial index level
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Pricing date: | Feb. 24
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Settlement date: | Feb. 27
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Underwriters: | UBS Investment Bank and UBS Financial Services, Inc.
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Underwriting discount: | 3.5%
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