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UBS plans callable contingent accrual notes tied to CMS rates, S&P 500
By Susanna Moon
Chicago, Sept. 30 - UBS AG, Jersey Branch plans to price callable contingent accrual notes due Oct. 14, 2025 linked to the 30-year Constant Maturity Swap rate, the two-year CMS rate and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The per-year interest rate will be 7.15% to 7.65% for each day that the 30-year CMS rate is at or above the two-year CMS rate and the S&P 500 closes at or above 850. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable on any interest payment date beginning Oct. 14, 2011.
The exact deal terms will be set at pricing.
The notes (Cusip 90261JGA5) are expected to price on Oct. 8 and settle on Oct. 14.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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