By Angela McDaniels
Tacoma, Wash., Feb. 25 - UBS AG priced $1.15 million of 13.2% yield optimization notes with contingent protection due Feb. 28, 2011 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $86.95, which is equal to the closing price of Apple stock on the pricing date.
Interest is payable monthly.
If the final share price of Apple stock is greater than or equal to 65% of the initial price, then the payout at maturity will be par. Otherwise, the payout will be one Apple share per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $1,145,132
|
| Maturity: | Feb. 28, 2011
|
| Coupon: | 13.2%, payable monthly
|
| Price: | Par of $86.95
|
| Payout at maturity: | If Apple shares finish below the trigger price, one Apple share per note; otherwise, par
|
| Initial share price: | $86.95
|
| Trigger price: | $56.518, 65% of initial price
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 27
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.75%
|
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