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UBS to sell protected absolute return barrier notes on Russell 2000
By Jennifer Chiou
New York, July 31 - UBS AG plans to price zero-coupon 100% principal protection absolute return barrier notes due Aug. 31, 2011 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index never closes above the upper index barrier or below the lower index barrier during the life of the notes, the payout at maturity will be par of $10 plus the absolute value of the index return.
The upper and lower index barriers will be 31% to 35% above and below the initial index level, respectively, with the exact barriers to be set at pricing.
Investors will receive at least par.
The notes are expected to price on Aug. 26 and settle on Aug. 31.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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