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UBS plans 7.25% to 9.25% yield optimization notes linked to Gap
By Jennifer Chiou
New York, Oct. 22 - UBS AG, London Branch plans to price 7.25% to 9.25% yield optimization notes with contingent protection due Oct. 31, 2011 linked to the common stock of Gap, Inc., according to an FWP filing with the Securities and Exchange Commission.
The face amount of each note will be equal to the closing price of Gap stock on the pricing date.
Interest will be payable monthly. The exact coupon will be set at pricing.
If the final price of Gap stock is greater than or equal to 80% of the initial price, the payout at maturity will be par in cash. Otherwise, the payout will be one Gap share per note.
The notes (Cusip: 90267F675) will price on Oct. 27 and settle on Oct. 29.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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