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UBS plans to sell 12.25% reverse convertibles tied to Arch Coal stock
By Susanna Moon
Chicago, Dec. 4 - UBS AG plans to price 12.25% reverse convertible notes due March 31, 2010 linked to the common stock of Arch Coal, Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Arch Coal stock falls below the trigger price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Arch Coal shares equal to $1,000 divided by the initial share price.
The notes are expected to price on Dec. 28 and settle on Dec. 31.
UBS Securities LLC and UBS Investment Bank are the underwriters.
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