Published on 10/31/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $8.38 million 10.5% airbag optimization notes linked to GT
By Toni Weeks
San Luis Obispo, Calif., Oct. 31 - UBS AG, London Branch priced $8.38 million of 10.5% annualized airbag yield optimization notes due April 30, 2014 linked to the common stock of GT Advanced Technologies 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 GT shares equal to $1,000 divided by the conversion price. The conversion price is 50% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Airbag yield optimization notes
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Underlying stock: | GT Advanced Technologies Inc. (Symbol: GTAT)
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Amount: | $8,383,000
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Maturity: | April 30, 2014
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Coupon: | 10.5%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, 249.3766 GT shares per $1,000 note; otherwise, par
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Initial share price: | $8.01
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Conversion price: | $4.01, 50% of initial share price
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Pricing date: | Oct. 29
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Settlement date: | Oct. 31
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1%
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Cusip: | 90271R194
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