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UBS to price performance securities due 2011 tied to three currencies
By Jennifer Chiou
New York, Oct. 14 - UBS AG plans to price 0% performance securities due Oct. 20, 2011 linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.
The basket includes the Australian dollar with a 33.34% weight, the Canadian dollar with a 33.33% weight and the Brazilian real with a 33.33% weight.
The payout at maturity will be par of $10 plus 490% to 510% of any appreciation in the basket relative to the U.S. dollar. The participation rate will be set at pricing. Investors are fully exposed to any depreciation in the basket versus the U.S. dollar.
The securities will price on Oct. 15 and settle on Oct. 20.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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