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UBS plans one-year capped index knock-out notes linked to S&P 500
By Toni Weeks
San Diego, June 12 - UBS AG, London Branch plans to price 0% capped index knock-out notes due July 3, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 20% from the initial level during the life of the notes.
If a knock-out event does not occur, the payout at maturity is par plus the greater of the 11% contingent minimum return and the index return.
If a knock-out event occurs, the payout at maturity is par plus the index return, with exposure to losses.
The maximum return in either case is expected to be at least 15% and will be set at pricing.
The notes (Cusip: 902674JD3) will price June 15 and settle June 20.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC will be the agents.
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