Published on 11/16/2011 in the Prospect News Structured Products Daily.
New Issue: UBS sells $599,976 9.92% trigger yield optimization notes on JPMorgan
By Susanna Moon
Chicago, Nov. 16 - UBS AG, London Branch priced $599,976 of 9.92% trigger yield optimization notes due Nov. 21, 2012 linked to JPMorgan Chase & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The face amount of each note is equal to the initial share price of JPMorgan.
The payout at maturity will be par unless the final price of JPMorgan stock is less than 60% of the initial share price, in which case investors will receive one JPMorgan share per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger yield optimization notes
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Underlying stock: | JPMorgan Chase & Co. (NYSE: JPM)
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Amount: | $599,975.55
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Maturity: | Nov. 21, 2012
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Coupon: | 9.92%, payable monthly
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Price: | Par of $31.47
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Payout at maturity: | If final share price is less than trigger price, one JPMorgan share; otherwise, par
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Initial share price: | $31.47
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Trigger price: | $18.88, or 60% of initial price
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Pricing date: | Nov. 16
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Settlement date: | Nov. 21
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90267M670
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