New Issue: UBS prices $10.72 million step performance notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., May 27 - UBS AG, London Branch priced $10.72 million of 0% step performance securities due May 25, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and 17.08%. Investors will be fully exposed to any decline in the index.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Step performance securities
Underlying index:	S&P 500
Amount:	$10,718,420
Maturity:	May 25, 2013
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus greater of index return and 17.08% if index return is zero or greater; par plus index return if index return is negative
Initial index level:	1,320.47
Pricing date:	May 25
Settlement date:	May 31
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90267G814

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.