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UBS plans return enhanced notes linked to offshore Chinese renminbi
By Angela McDaniels
Tacoma, Wash., Jan. 23 - UBS AG, Jersey Branch plans to price 0% return enhanced notes due Feb. 6, 2014 linked to the performance of the offshore Chinese renminbi relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
If the currency return is positive, meaning the renminbi has appreciated relative to the dollar, the payout at maturity will be par plus 4.2 times the currency return. If the currency return is negative, investors will be fully exposed to the decline.
The notes are expected to price Jan. 25 and settle Jan. 30.
UBS Investment Bank is the underwriter, and JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are dealers.
The Cusip number is 90261JLC5.
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