By Susanna Moon
Chicago, Oct. 29 - UBS AG priced $1.8 million of 9.85% yield optimization notes with contingent protection due Oct. 31, 2011 based on the performance of Carnival Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Each note has a face value of $42.47, which is equal to the closing price of Carnival stock on the pricing date.
The payout at maturity will be par unless the stock finishes below 80% of the initial share price, in which case the payout will be one share of Carnival stock 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 stock: | Carnival Corp. (NYSE: CCL)
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Amount: | $1,795,801.48
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Maturity: | Oct. 31, 2011
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Coupon: | 9.85%, payable monthly
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Price: | Par of $42.47
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Payout at maturity: | If final share price is less than trigger price of $33.98, one Carnival share; otherwise, par
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Initial share price: | $42.47
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Trigger price: | $33.98, or 80% of initial price
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Pricing date: | Oct. 27
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Settlement date: | Oct. 29
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90267F667
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