Published on 2/25/2010 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.57 million 9% yield optimization notes linked to BHP Billiton
By Angela McDaniels
Tacoma, Wash., Feb. 25 - UBS AG, London Branch priced $1.57 million of 9% yield optimization notes with contingent protection due Feb. 29, 2012 linked to the American Depositary Shares of BHP Billiton Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $73.43, which was the closing price of BHP Billiton ADSs on the pricing date.
Interest is payable monthly.
If the final price of BHP Billiton ADSs is greater than or equal to 80% of the initial price, the payout at maturity will be par. Otherwise, the payout will be one BHP Billiton ADS per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Yield optimization notes with contingent protection
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Underlying ADSs: | BHP Billiton Ltd. (NYSE: BHP)
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Amount: | $1,573,164
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Maturity: | Feb. 29, 2012
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Coupon: | 9%, payable monthly
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Price: | Par of $73.43
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Payout at maturity: | If BHP Billiton ADSs finish below trigger price, one BHP Billiton ADS; otherwise, par
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Initial ADS price: | $73.43
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Trigger price: | $58.74, 80% of initial price
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Pricing date: | Feb. 24
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Settlement date: | Feb. 26
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.75%
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Cusip: | 90267B864
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