By Laura Lutz
Des Moines, Nov. 28 - UBS AG priced $4.48 million of 13.2% yield optimization notes with contingent protection due Nov. 28, 2008 linked to the common stock of Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
Each note has a principal amount of $55.22, equal to the initial price of Target stock.
If Target stock falls below the trigger price - 75% of the initial price - during the life of the notes, the payout will be one Target share per note. If the stock remains at or above the trigger price, the payout will be par.
UBS Investment Bank and UBS Financial Services Inc. are the underwriters.
| Issuer: | UBS AG
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Target Corp. (NYSE: TGT)
|
| Amount: | $4,478,066
|
| Maturity: | Nov. 28, 2008
|
| Coupon: | 13.2%
|
| Price: | Par of $55.22
|
| Payout at maturity: | If Target stock falls below 75% of initial price during life of notes, one Target share per note; otherwise, par
|
| Initial price: | $55.22
|
| Trigger price: | $41.42 75% of initial price
|
| Pricing date: | Nov. 26
|
| Settlement date: | Nov. 30
|
| Underwriters: | UBS Investment Bank; UBS Financial Services Inc.
|
| Fees: | 2%
|
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