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UBS to price 7%-9% airbag yield optimization notes on Toll Brothers
By Marisa Wong
Madison, Wis., Dec. 12 - UBS AG, London Branch plans to price 7% to 9% annualized airbag yield optimization notes due June 20, 2013 linked to the common stock of Toll Brothers, Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
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 Toll Brothers shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.
The notes (Cusip: 90269W866) are expected to price Dec. 14 and settle Dec. 19.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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