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UBS to price five-year call warrants linked to Euro Stoxx 50 index
By Toni Weeks
San Luis Obispo, Calif., Dec. 5 - UBS AG, London Branch plans to price call warrants expiring Dec. 20, 2018 linked the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notional amount is expected to be $59,523.81 to $72,463.77 per warrant and will be set at pricing. The initial investment will be $10,000 per warrant, or 13.8% to 16.8% of the notional amount.
The warrants will be automatically exercised on the expiration date if the index's final level is greater than the initial index level. The cash settlement amount will be the greater of (a) the notional amount multiplied by the index return and (b) zero.
The index return must be greater than between 13.8% and 16.8% (to be determined on the pricing date) for investors to receive a positive return on their initial investments.
If the index's final level is equal to or less than the initial index level, the warrants will expire worthless and investors will lose their entire initial investments in the warrants.
UBS Financial Services, Inc. and UBS Investment Bank are the underwriters.
The warrants are expected to price Dec. 16 and settle Dec. 19.
The Cusip number is 90271R624.
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