By Susanna Moon
Chicago, Aug. 13 - UBS AG, London Branch priced $2.03 million of 10.37% airbag autocallable yield optimization notes due Aug. 15, 2014 linked to Tenet Healthcare Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Tenet shares close at or above the initial share price on quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Tenet shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying stock: | Tenet Healthcare Corp. (Symbol: THC)
|
| Amount: | $2,025,000
|
| Maturity: | Aug. 15, 2014
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than conversion price, 28.2406 Tenet shares; otherwise, par
|
| Call: | At par if Tenet shares close at or above initial share price on quarterly observation date
|
| Initial share price: | $41.66
|
| Conversion price: | $35.41, 85% of initial share price
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 14
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90271L718
|
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