By Toni Weeks
San Diego, Aug. 11 - UBS AG, London Branch priced $1.7 million of 16.73% annualized reverse convertible securities due Nov. 16, 2011 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless General Electric shares fall below the trigger price - 75% of the initial share price - during the life of the notes and finish below the initial share price, in which case the payout will be 63.7755 General Electric shares per $1,000 of notes.
UBS Securities LLC and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Reverse convertible notes
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Underlying stock: | General Electric Inc. (NYSE: GE)
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Amount: | $1.7 million
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Maturity: | Nov. 16, 2011
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Coupon: | 16.73%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless General Electric shares fall below the trigger price of $11.76 and finish below the initial price, in which case 63.7755 shares of General Electric stock
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Initial price: | $15.68
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Trigger price: | $11.76, 75% of initial price
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Pricing date: | Aug. 11
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Settlement date: | Aug. 16
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Underwriters: | UBS Securities LLC and UBS Investment Bank
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Fees: | 2.25%
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Cusip: | 902674FF2
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