By Susanna Moon
Chicago, July 29 - UBS AG priced $2.32 million of 9.79% annualized yield optimization notes with contingent protection due Jan. 30, 2009 linked to Standard & Poor's Depositary Receipts, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes priced at par of $144.31, equal to the price of one SPDR on the pricing date.
If the shares never close below the trigger price - 80% of the initial price - the payout at maturity will be par. Otherwise, the payout will be one fund share per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG
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Issue: | Yield optimization notes with contingent protection
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Underlying fund: | Standard & Poor's Depositary Receipts
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Amount: | $2,318,196
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Maturity: | Jan. 30, 2009
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Coupon: | 9.79%, payable quarterly
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Price: | Par of $144.31
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Payout at maturity: | If the SPDRs ever close below the trigger price, one SPDR; otherwise, par
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Initial SPDR price: | $144.31
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Trigger price: | $115.45, or 80% of initial price
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Pricing date: | July 25
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Settlement date: | July 31
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1%
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