Published on 8/16/2011 in the Prospect News Structured Products Daily.
New Issue: UBS sells $825,000 trigger autocallable optimization notes tied to Hess
By Susanna Moon
Chicago, Aug. 16 - UBS AG, London Branch priced $825,000 of 0% trigger autocallable optimization securities due Aug. 23, 2012 linked to Hess Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call return of 29.58% if Hess stock closes at or above the initial share price on any of 12 monthly observation dates.
The payout at maturity will be par if the stock finishes at or above 70% of the initial share price. Otherwise, investors will be exposed to the share price decline.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable optimization securities
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Underlying stock: | Hess Corp. (NYSE: HES)
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Amount: | $825,000
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Maturity: | Aug. 23, 2012
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If Hess shares finish at or above trigger price, par; otherwise, exposure to losses
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Call: | At par plus premium of 29.58% per year if Hess stock closes at or above initial share price on any of 12 monthly observation dates
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Initial share price: | $59.20
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Trigger price: | $41.44, or 70% of initial share price
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Pricing date: | Aug. 16
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Settlement date: | Aug. 19
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.25%
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Cusip: | 90268C382
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