New Issue: UBS prices $0.17 million 12.5% reverse convertibles linked to Goldman Sachs

New York, May 28 - UBS AG priced $0.175 million of 12.5% reverse convertible notes due Nov. 30, 2010 linked to Goldman Sachs Group, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Goldman Sachs shares fall below the protection price of $106.92, 75% of the initial price of $142.56, during the life of the notes and finish below the initial price in which case the payout will be 7.0146 shares of Goldman Sachs stock.

UBS Securities LLC is the agent.

Issuer:	UBS AG
Issue:	Reverse convertible notes
Underlying stock:	Goldman Sachs Group, Inc. (Symbol: GS)
Amount:	$0.175 million
Maturity:	Nov. 30, 2010
Coupon:	12.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Goldman Sachs shares fall below the protection price of $106.92, 75% of the initial price, and finish below the initial price, in which case 7.0146 shares of Goldman Sachs stock
Initial price:	$142.56
Protection price:	$106.92, 75% of $142.56
Exchange ratio:	7.0146
Pricing date:	May 25
Settlement date:	May 28
Agent:	UBS Securities LLC
Fees:	1%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.