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UBS to price trigger step performance securities tied to Russell 2000
By Toni Weeks
San Luis Obispo, Calif., June 10 - UBS AG, London Branch plans to price 0% trigger step performance securities due June 30, 2017 linked to the Russell 2000 index, according to an FWP 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 the step return, which is expected to be 23% to 28% and will be determined at pricing.
Investors will receive par if the index falls by up to 25% and will be fully exposed to losses from the initial level if it falls more than 25%.
The notes (Cusip: 90271C809) are expected to price June 25 and settle June 28.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
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