Published on 9/27/2007 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.2 million performance tracking securities linked to BXM index
By Angela McDaniels
Seattle, Sept. 27 - UBS AG priced $1.2 million of 0% performance tracking securities due Sept. 28, 2012 linked to the CBOE S&P 500 BuyWrite (BXM) index, according to a 424B2 filing with the Securities and Exchange Commission.
For each $10 security, the payout at maturity will be $9.875 plus the index return and minus a fee amount. The fee amount will initially be 1.25% and will increase each day by an amount equal to $9.875 plus the index return for that day multiplied by the quotient of 1.25% divided by 365.
Holders may exchange their securities on Oct. 1, 2008; Sept. 30, 2009; Sept. 30, 2010; and Sept. 30, 2011. The redemption amount will be calculated in the same way as the payout at maturity.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG
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Issue: | Performance tracking securities
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Underlying index: | CBOE S&P 500 BuyWrite (BXM)
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Amount: | $1,205,750
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Maturity: | Sept. 28, 2012
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | $9.875 plus the index return minus the fee, which will initially be 1.25% and will increase each day by an amount equal to $9.875 plus the index return multiplied by the quotient of 1.25% divided by 365
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Put: | Oct. 1, 2008; Sept. 30, 2009; Sept. 30, 2010; and Sept. 30, 2011
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Initial index level: | 828.29
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Pricing date: | Sept. 25
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Settlement date: | Sept. 28
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.25%
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