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UBS launches SUPER Notes XII linked to a basket of three Asian indices
UBS today launched SUPER Notes XII (Series No. 12). The US dollar index-linked Notes due 2010 are linked to a basket of three Asian indices - the Hang Seng Index, the SET 50 Index, and the KOSPI 200 Index.
The Notes, which have a tenor of four years and 11 months, have a fixed coupon of 5.5% for the first year. The coupon for each of the seven six-month periods after the first year, and the last five months, will depend on the closing levels of the indices during the accrual periods.
"Linked to the stock exchanges of Hong Kong, Thailand and Korea, the Notes offer good potential returns. Aggregate fixed and potential coupons during the life of the Notes can be as high as 29%," noted Christopher F LEE, head of UBS's Equity Risk Management Intermediary desk. "SUPER Notes XII follows hard on the heels of SUPER Notes XI, which was launched earlier this month and was linked to a basket of six Hong Kong-listed property companies. The earlier issue is non-protected and has a fixed coupon of 9.5% for the first year, with subsequent potential variable coupons linked to the average performance of the shares in the basket," added Lee.
SUPER Notes XII are 100% principal protected upon mandatory early redemption or at maturity only. They can be redeemed early in cash at 100% of the principal amount on a coupon payment date (other than the first and last ones) if the closing levels of all the indices on the relevant observation date are equal to or greater than their respective callable levels, together with the variable coupon for that coupon date.
Investors may purchase the Notes in individual units of US$5,000 but must purchase a minimum of US$10,000.
Available for subscription by retail investors in Hong Kong from 25th July 2005 until 8th August, the Notes are being distributed by Citibank (Hong Kong) Limited and ABN AMRO Bank NV, Hong Kong Branch.
UBS's Equity Risk Management Products team was placed first in all nine equity categories in Asiamoney's inaugural structured products poll last year. UBS was also voted Overall Best Provider in the Equity category. In addition, Asia Risk and The Asset named UBS Equity Derivatives House of the Year for 2004.
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