Published on 4/24/2012 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.95 million 7.01% airbag yield optimization notes linked to Baker Hughes
By Angela McDaniels
Tacoma, Wash., April 24 - UBS AG, London Branch priced $2.95 million of 7.01% annualized airbag yield optimization notes due Oct. 26, 2012 linked to the common stock of Baker Hughes Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
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 Baker Hughes shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Airbag yield optimization notes
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Underlying stock: | Baker Hughes Inc. (Symbol: BHI)
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Amount: | $2,949,000
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Maturity: | Oct. 26, 2012
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Coupon: | 7.01%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, 30.8928 Baker Hughes shares; otherwise, par
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Initial share price: | $40.46
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Conversion price: | $32.37, 80% of initial share price
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Pricing date: | April 20
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Settlement date: | April 26
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1%
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Cusip: | 9026M0705
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