UBS to price yield optimization notes linked to Las Vegas Sands

By Angela McDaniels

Seattle, July 2 - UBS AG plans to price yield optimization notes with contingent protection due July 31, 2008 linked to the common stock of Las Vegas Sands Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes will carry of coupon of 11.5% to 12.5%, and interest will be payable quarterly. The exact coupon will be determined at pricing, which is expected to be July 25.

If Las Vegas Sands stock falls below the trigger price during the life of the notes, the payout will be one Las Vegas Sands share per note. If Las Vegas Sands stock does not fall below the trigger price, the payout will be par.

The trigger price will be 75% of the initial share price, and par will equal the initial share price.

UBS Securities 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.