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UBS to sell barrier optimization securities linked to S&P 500 index
By Susanna Moon
Chicago, Oct. 30 - UBS AG plans to price 0% barrier optimization securities with partial protection due May 31, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus any index gain unless the index rises above its barrier level - 130% to 136% of the initial level - on any trading day, in which case the payout will be par plus a conditional coupon of 3%.
Investors will receive par for losses up to 15% and will share in any losses beyond 15%.
The notes will price on Nov. 24 and settle on Nov. 30.
UBS Financial Services Inc. is the underwriter.
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