Published on 5/18/2010 in the Prospect News Structured Products Daily.
New Issue: UBS prices $8.59 million 13.3% yield optimization notes linked to Citigroup
By Angela McDaniels
Tacoma, Wash., May 18 - UBS AG, London Branch priced $8.59 million of 13.3% yield optimization notes with contingent protection due May 23, 2012 linked to the common stock of Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Each note has a face value of $3.86, which is equal to the closing price of Citigroup stock on the pricing date.
The payout at maturity will be par unless the final price of Citigroup stock is less than 75% of the initial share price, in which case the payout will be one share of Citigroup stock.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Yield optimization notes with contingent protection
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Underlying stock: | Citigroup Inc. (Symbol: C)
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Amount: | $8,591,603
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Maturity: | May 23, 2012
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Coupon: | 13.3%, payable monthly
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Price: | Par of $3.86
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Payout at maturity: | If final share price is less than trigger price, one Citigroup share; otherwise, par
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Initial share price: | $3.86
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Trigger price: | $2.90, 75% of initial price
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Pricing date: | May 17
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Settlement date: | May 20
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.75%
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Cusip: | 90267C292
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