By Angela McDaniels
Tacoma, Wash., June 15 - UBS AG priced $1.89 million of 10.5% yield optimization notes with contingent protection due June 16, 2011 linked to the common stock of Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $70.63, which is equal to the closing price of one Occidental Petroleum share on the pricing date.
Interest is payable monthly.
If the final share price is greater than or equal to 70% of the initial price, the payout at maturity will be par. Otherwise, the payout will be one Occidental Petroleum share per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG
|
Issue: | Yield optimization notes with contingent protection
|
Underlying stock: | Occidental Petroleum Corp. (NYSE: OXY)
|
Amount: | $1,892,248
|
Maturity: | June 16, 2011
|
Coupon: | 10.5%, payable monthly
|
Price: | Par of $70.63
|
Payout at maturity: | If Occidental Petroleum stock finishes below the trigger price, one Occidental Petroleum share per note; otherwise, par
|
Initial share price: | $70.63
|
Trigger price: | $49.44, 70% of initial price
|
Pricing date: | June 11
|
Settlement date: | June 16
|
Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | 2.75%
|
© 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.