By Jennifer Chiou
New York, Aug. 18 - UBS AG priced $6.02 million of 10.36% annualized yield optimization notes with contingent protection due Aug. 19, 2011 linked to the common stock of Hess Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $51.15, which was the closing price of Hess stock on the pricing date.
Interest is payable quarterly.
If Hess stock finishes at or above 70% of the initial price, the payout at maturity will be par.
Otherwise, investors will receive one Hess share per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Hess Corp. (NYSE: HES)
|
| Amount: | $6,015,189
|
| Maturity: | Aug. 19, 2011
|
| Coupon: | 10.36%, payable quarterly
|
| Price: | Par of $51.15
|
| Payout at maturity: | If Hess shares finish below the trigger price, one Hess share per note; otherwise, par
|
| Initial share price: | $51.15
|
| Trigger price: | $35.81, or 70% of initial price
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 19
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.75%
|
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