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Published on 1/18/2005 in the Prospect News Convertibles Daily.

UBS to sell €650 - €700 million mandatory, convertible into DaimlerChrysler, at 4.35%-4.55%

By Ronda Fears

Nashville, Jan. 18 - UBS AG launched €650 million to €700 million of mandatory bonds, convertible into DaimlerChrysler AG shares, with guidance for a 4.35% to 4.55% coupon.

The five-year non-callable bonds will have an exchange ratio of 0.6207 to 1.0000 based on a lower threshold price of €45,000 and an upper threshold price of €72,500.

Par is €50,000.

UBS is sole bookrunner of the offering.

The bonds will have takeover protection as well as dividend protection. Also, there is a cash settlement option.

DaimlerChrysler shares closed on the XETRA up €0.35, or 1.00%, at €35.24. On the New York Stock Exchange, DaimlerChrysler shares ended up 12 cents, or 0.26%, at $45.96.


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