Published on 11/25/2009 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.39 million autocallable optimization notes tied to Energy Select Sector SPDR
New York, Nov. 25 - UBS AG priced $5.39 million of 0% autocallable optimization securities with contingent protection due Dec. 2, 2010 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called if the exchange-traded fund's shares close at or above the initial share price on any of four quarterly observation dates. The redemption amount will be par of $10 plus an annualized call return of 18 %.
The observation dates are Feb. 22, 2010, May 24, 2010, Aug. 25, 2010 and Nov. 26, 2010.
If the notes are not called and the final share price is greater than or equal to the trigger price - 75% of the initial price - the payout at maturity will be par. If the final share price is less than the trigger price, investors will receive par plus the fund return.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG
|
| Issue: | Autocallable optimization securities with contingent protection
|
| Underlying ETF: | Energy Select Sector SPDR fund
|
| Amount: | $ 5,385,040
|
| Maturity: | Dec. 2, 2010
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par if final share price is greater than or equal to trigger level; otherwise, par plus fund return
|
| Call: | Automatically if fund's shares close at or above initial share price on Feb. 22, 2010, May 24, 2010, Aug. 25, 2010 and Nov. 26, 2010; payout will be par plus annualized call return of 18%
|
| Initial share price: | $57.66
|
| Trigger price: | $43.25, 75% of initial share price
|
| Pricing date: | Nov. 24
|
| Settlement date: | Nov. 30
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.25%
|
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