Published on 8/13/2009 in the Prospect News Structured Products Daily.
New Issue: UBS prices $152,000 11.75% reverse convertibles linked to JPMorgan
By Angela McDaniels
Tacoma, Wash., Aug. 13 - UBS AG priced $152,000 of reverse convertible notes due Feb. 18, 2010 linked to the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The six-month notes will pay 5.875% for an annualized coupon of 11.75%. Interest is payable monthly.
The payout at maturity will be par unless JPMorgan stock falls below the trigger price - 75% of the initial share price - during the life of the notes and finishes below the initial price, in which case investors will receive a number of JPMorgan shares equal to $1,000 divided by the initial price.
UBS Investment Bank is the underwriter.
Issuer: | UBS AG
|
Issue: | Reverse convertible notes
|
Underlying stock: | JPMorgan Chase & Co. (NYSE: JPM)
|
Amount: | $152,000
|
Maturity: | Feb. 18, 2010
|
Coupon: | 11.75%, payable monthly
|
Price: | Par
|
Payout at maturity: | If JPMorgan stock falls below trigger price during life of notes and finishes below initial price, 23.691 JPMorgan shares; otherwise, par
|
Initial share price: | $42.21
|
Trigger price: | $31.66, 75% of initial share price
|
Pricing date: | Aug. 12
|
Settlement date: | Aug. 17
|
Underwriter: | UBS Investment Bank
|
Fees: | 2.25%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.