Published on 12/13/2011 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.64 million trigger autocallables on iShares Russell 2000
By Jennifer Chiou
New York, Dec. 13 - UBS AG, London Branch priced $2.64 million of 0% trigger autocallable optimization securities due Dec. 15, 2016 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the closing share price on any quarterly observation date is greater than the initial share price, the notes will be called at par of $10 plus a call return of 14.42% per year. The first observation date is Dec. 14, 2012.
If the notes are not called and the final share price is greater than or equal to 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the share price decline.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable optimization securities
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Underlying ETF: | iShares Russell 2000 index fund
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Amount: | $2,639,370
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Maturity: | Dec. 15, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final share price is at least 60% of initial share price, par; otherwise, full exposure to share price decline
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Call: | Automatically at par plus 14.42% per year if shares close at or above initial share price on any quarterly observation date; first observation date is Dec. 14, 2012
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Initial share price: | $74.54
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Trigger level: | $44.72, 60% of initial share price
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Pricing date: | Dec. 9
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Settlement date: | Dec. 14
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.5%
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Cusip: | 90267T857
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