By Angela McDaniels
Tacoma, Wash., Nov. 1 - UBS AG, Jersey Branch priced $26.96 million principal amount of exchange-traded access securities due Oct. 29, 2040 linked to the Wells Fargo Master Limited Partnership index, according to a 424B2 filing with the Securities and Exchange Commission.
The company sold the notes to underwriter UBS Securities LLC, and $21.22 million of those notes were sold to the public at 102% of par by agent Wells Fargo Securities, LLC on the pricing date. The remaining $5.74 million of notes will be sold to the public after the pricing date.
UBS plans to issue up to $100 million of the notes. The remainder will be sold from time to time at varying prices.
The notes have a face amount of $24.51 each.
The notes may pay a quarterly coupon. The coupon amount will equal the sum of the cash distributions that a hypothetical holder of the index constituents would have been entitled to receive during the relevant interest period, reduced by the accrued tracking fee.
The notes are putable on weekly repurchase dates, subject to a minimum of 50,000 notes and a redemption fee of 0.125%. UBS can call the notes beginning Nov. 3, 2011.
The payout upon redemption or at maturity will be par plus the index return minus the accrued tracking fee.
On any day, the tracking fee is 0.85% per year multiplied by the sum of par plus the index return on the preceding day.
The notes have been approved for listing on NYSE Arca under the symbol "MLPW."
The index is designed to measure the performance of all master limited partnerships in the energy sector listed on the New York Stock Exchange or Nasdaq that satisfy market capitalization and other eligibility requirements.
| Issuer: | UBS AG, Jersey Branch
|
| Issue: | Exchange-traded access securities
|
| Underlying | index: | Wells Fargo Master Limited Partnership index
|
| Amount: | $26,961,000
|
| Maturity: | Oct. 29, 2040
|
| Coupon: | Amount equal to sum of cash distributions made by index constituents during relevant interest period, reduced by accrued tracking fee; payable quarterly
|
| Price: | 102, or $25
|
| Payout at maturity: | Par plus index return minus tracking fee of approximately 0.85% per year
|
| Initial index level: | 451.38
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 3 for $21,218,307
|
| Underwriter: | UBS Securities LLC with agent Wells Fargo Securities, LLC
|
| Fees: | 2%
|
| Listing: | NYSE Arca: MLPW
|
| Cusip: | 902664408
|
© 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.
