Each product is a deferred purchase agreement (DPA) entered into by UBS and the investor. DPAs are used in structured products to allow investors to participate in the performance of a reference asset, typically foreign equity indexes, but receive the return in a delivery asset, usually domestic shares. Each Perles+ unit is a separate DPA under which the investor agrees to purchase the delivery parcel from UBS on a deferred basis.
Series 3 is a non-principal protected 14-month investment which wi
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