UBS to price yield optimization notes linked to Hewlett-Packard

By Susanna Moon

Chicago, Sept. 24 - UBS AG plans to price yield optimization notes with contingent protection due Oct. 30, 2008 linked to the common stock of Hewlett-Packard Co., according to an FWP filing with the Securities and Exchange Commission.

The notes will have of coupon of 8.8% to 9.8%, with the exact rate to be set at pricing. Interest will be payable quarterly.

If Hewlett-Packard stock falls below the trigger price - 75% of the initial share price - during the life of the notes, the payout will be one Hewlett-Packard share per note. If Hewlett-Packard stock remains at or above the trigger price, the payout will be par.

The issue is expected to price on Oct. 25 and settle on Oct. 31.

UBS Investment Bank and UBS Financial Services Inc. will be the underwriters.

© 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.