Published on 6/28/2012 in the Prospect News Structured Products Daily.
New Issue: UBS prices $12.86 million contingent absolute return autocallables linked to Brent crude
New York, June 28 - UBS AG, London Branch priced $12.86 million of 0% contingent absolute return autocallable optimization securities due July 2, 2013 linked to Brent crude oil futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 12.082% if the settlement price is greater than or equal to the initial price on any quarterly observation date.
If the notes are not called and the final settlement price is greater than or equal to the trigger price, 80% of the initial price, the payout at maturity will be par plus the absolute value of the oil return. Otherwise, investors will be fully exposed to the oil decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Contingent absolute return autocallable optimization securities
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Underlying commodity: | Brent crude oil
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Amount: | $12,860,600
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Maturity: | July 2, 2013
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If final settlement price is greater than or equal to trigger price, par plus absolute value of oil return; otherwise, full exposure to oil decline
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Call: | At par plus 12.082% per year if settlement price is greater than or equal to initial price on Sept. 27, 2012, Dec. 27, 2012, March 27, 2013 or June 27, 2013
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Initial price: | $93.02
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Trigger price: | $74.42, 80% of initial price
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Pricing date: | June 26
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Settlement date: | June 29
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90268U523
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