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UBS to price relative performance notes linked to S&P 500, NYSE US 5 Year Treasury indexes
By Angela McDaniels
Tacoma, Wash., Oct. 1 - UBS AG, London Branch plans to price 0% relative performance securities due Oct. 31, 2017 linked to the S&P 500 index and the NYSE US 5 Year Treasury Futures index, according to a 424B3 filing with the Securities and Exchange Commission.
The S&P 500 is the "long index," and the Treasury index is the "short index." The relative return will be the long index return minus the short index return.
If the long index return is greater than or equal to the short index return, the payout at maturity will be par of $10 plus 145% to 155% of the relative return. The exact participation rate will be set at pricing.
If the long index return is less than the short index return, the payout will be par plus the relative return, which will be negative.
The notes are expected to price Oct. 26 and settle Oct. 31.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
The Cusip number is 90269V603.
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