Published on 6/14/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.18 million airbag yield optimization notes linked to Cliffs Natural
New York, June 14 - UBS AG, London Branch priced $1,175,000 of 8.75% annualized airbag yield optimization notes due Dec. 19 linked to the common stock of Cliffs Natural Resources Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Cliffs Natural shares equal to $1,000 divided by the conversion price. The conversion price is 70% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank is the agent.
Issuer: | UBS AG, London Branch
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Issue: | Airbag yield optimization notes
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Underlying stock: | Cliffs Natural Resources Inc. (NYSE: CLF)
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Amount: | $1,175,000
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Maturity: | Dec. 19
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Coupon: | 8.75% annualized, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, number of Cliffs Natural shares equal to $1,000 divided by conversion price; otherwise, par
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Initial share price: | $17.74
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Conversion price: | $12.42, 70% of initial price
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Pricing date: | June 14
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Settlement date: | June 19
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1%
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Cusip: | 90271J770
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