By Angela McDaniels
Tacoma, Wash., July 29 - UBS AG, London Branch priced $17.09 million of 10% yield optimization notes with contingent protection due July 29, 2011 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $13.99, which is equal to the closing price of Bank of America stock on the pricing date.
Interest is payable monthly.
The payout at maturity will be par unless the final price of Bank of America stock is less than 70% of the initial share price, in which case the payout will be one share of Bank of America stock per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Bank of America Corp. (NYSE: BAC)
|
| Amount: | $17,088,743.03
|
| Maturity: | July 29, 2011
|
| Coupon: | 10%, payable monthly
|
| Price: | Par of $13.99
|
| Payout at maturity: | If final share price is less than trigger price, one Bank of America share; otherwise, par
|
| Initial share price: | $13.99
|
| Trigger price: | $9.79, 70% of initial price
|
| Pricing date: | July 28
|
| Settlement date: | July 30
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90267C581
|
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