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UBS to price capped knock-out notes tied to Apple via JPMorgan
By Toni Weeks
San Diego, Nov. 20 - UBS AG, London Branch plans to price 0% capped knock-out notes due Dec. 11, 2013 linked to Apple Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
A knock-out event occurs if Apple stock finishes below the 80% trigger level.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of the contingent minimum return of 15% and any stock gain, up to a maximum return of 15%.
If a knock-out event occurs, the payout will be par plus the stock return, with full exposure to losses.
The notes will price on Nov. 21 and settle on Nov. 27.
The Cusip number is 902674LY4.
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