Published on 5/29/2008 in the Prospect News Structured Products Daily.
New Issue: UBS prices $39.13 million protected absolute return barrier notes linked to S&P 500
By Jennifer Chiou
New York, May 29 - UBS AG priced $39.13 million of zero-coupon 100% principal protection absolute return barrier notes due May 29, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes above the upper index barrier or below the lower index barrier on any day during the life of the notes, the payout at maturity will be par of $10. Otherwise, the payout will be par plus the absolute value of the index return.
The upper and lower index barriers are 16.03% above and below the initial index level, respectively.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG
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Issue: | 100% principal protection absolute return barrier notes
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Underlying index: | S&P 500
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Amount: | $39,131,520
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Maturity: | May 29, 2009
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par if index ever closes above the upper index barrier or below the lower index barrier; otherwise, par plus the absolute value of the index return
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Initial index level: | 1,385.35
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Lower index barrier: | 1,163.28, 83.97% of initial index level
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Upper index barrier: | 1,607.42, 116.03% of initial index level
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Pricing date: | May 27
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Settlement date: | May 30
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Underwriters: | UBS Financial Services Inc., UBS Investment Bank
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Fees: | 1.25%
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