By Jennifer Chiou
New York, May 9 - UBS AG priced a $50 million long issue of 0% exchange-traded access securities (E-Tracs) due May 14, 2018 linked to the UBS Bloomberg CMCI Platinum Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The index is a sub-index of the UBS Bloomberg Constant Maturity Commodity index and measures the collateralized returns from platinum futures contracts.
The payout at maturity will be par of $25 times the index performance minus a fee equal to 0.65% per year.
Holders may require UBS to redeem the securities, in whole or in part, on any trading day beginning on May 30, 2008. There is a minimum of 100,000 securities, or $2.5 million principal amount.
UBS may call the securities on any trading day on or after May 13, 2013 through May 14, 2018. Holders will receive the redemption amount, which is calculated in the same manner as the payout at maturity.
The securities have been approved for listing on NYSE Arca under the symbol "PTM."
UBS Investment Bank is the underwriter.
| Issuer: | UBS AG
|
| Issue: | Exchange-traded access securities (E-Tracs)
|
| Underlying index: | Long position on UBS Bloomberg CMCI Platinum Excess Return
|
| Amount: | $50 million
|
| Maturity: | May 14, 2018
|
| Coupon: | 0%
|
| Price: | Par of $25
|
| Payout at maturity: | Par times the index performance minus a fee equal to 0.65% per year
|
| Put: | In whole or in part on any trading day beginning May 30, 2008; minimum of 100,000 securities
|
| Call: | On any trading day on or after May 13, 2013 through May 14, 2018
|
| Initial level: | 1,788.47
|
| Pricing date: | May 8
|
| Settlement date: | May 13
|
| Underwriter: | UBS Investment Bank
|
| Listing: | NYSE Arca: PTM
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
