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UBS plans relative performance notes on EM fund, five-year Treasury
By Susanna Moon
Chicago, March 1 - UBS AG, London Branch plans to price 0% relative performance securities due March 21, 2016 linked to the iShares MSCI Emerging Markets index fund and the NYSE US 5 Year Treasury Futures index, according to a 424B3 filing with the Securities and Exchange Commission.
The iShares MSCI EM fund is the long asset, and the Treasury index is the short asset. The relative return will be the long index return minus the short index return.
The payout at maturity will be par of $10 plus 100% to 110% of any relative return. The exact participation rate will be set at pricing.
Investors will be exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
The notes will price on March 15 and settle on March 20.
The Cusip number is 90271B587.
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