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UBS plans 13.5%-15.5% single observation ELKS tied to Las Vegas Sands
By Marisa Wong
Madison, Wis., June 13 - UBS AG, London Branch plans to price 13.5% to 15.5% annualized single observation Equity LinKed Securities due Dec. 20, 2012 linked to the common shares of Las Vegas Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact rate will be set at pricing.
The payout at maturity will be par in cash unless Las Vegas Sands shares fall to or below 75% of the initial price on the Dec. 17, 2012 valuation date, in which case the payout will be a number of shares of Las Vegas Sands stock equal to $10 divided by the initial price.
The notes (Cusip: 90268U481) are expected to price June 15 settle June 20.
UBS Securities LLC will be the agent.
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