Published on 7/27/2007 in the Prospect News Structured Products Daily.
New Issue: UBS prices $10.07 million 12.83% yield optimization notes linked to Las Vegas Sands
By E. Janene Geiss
Philadelphia, July 27 - UBS AG priced a $10,069,194 offering of 12.83% yield optimization notes due July 31, 2008 linked to the common stock of Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless Las Vegas Sands stock falls below the trigger price of $63.83 during the life of the notes - 75% of the initial share price - in which case the payout will be one share of Las Vegas Sands stock.
UBS Investment Bank and UBS Financial Services Inc. are the agents.
Issuer: | UBS AG
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Issue: | Yield optimization notes with contingent protection
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Underlying stock: | Las Vegas Sands Corp. (NYSE: LVS)
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Amount: | $10,069,194
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Maturity: | July 31, 2008
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Coupon: | 12.83%, payable quarterly
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Price: | Par of $85.11
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Payout at maturity: | Par unless Las Vegas Sands stock falls below the trigger price during the life of the notes, in which case payout will be one Las Vegas Sands share
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Initial share price: | $85.11
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Trigger price: | $63.83, 75% of initial share price
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Pricing date: | July 25
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Settlement date: | July 31
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Underwriters: | UBS Investment Bank and UBS Financial Services Inc.
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Fees: | 2%
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