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UBS plans optimization notes with contingent protection tied to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 6 - UBS AG, London Branch plans to price 0% optimization securities with contingent protection due April 19, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than 8%, the payout at maturity will be par of $10 plus the lesser of the index return and the maximum gain. If the index return is between 9% and negative 20%, the payout will be par plus 8%. If the index return is less than negative 20%, the payout will be par plus the index return.
The maximum gain is expected to be 14% to 19% and will be set at pricing.
The notes (Cusip 90267F154) will price Oct. 14 and settle Oct. 20.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
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