Published on 3/31/2011 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.03 million 7.85% trigger yield optimization notes on BHP
By Jennifer Chiou
New York, March 31 - UBS AG, London Branch priced $2.03 million of 7.85% trigger yield optimization notes due March 30, 2012 linked to the American Depositary Shares of BHP Billiton Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes have a face value of $92.79 each, which is equal to the initial ADS price of BHP.
If the final price of BHP Billiton ADSs is less than 80% of the initial ADS price, the payout at maturity will be one BHP Billiton ADS per note. Otherwise, the payout will be par.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger yield optimization notes
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Underlying ADS: | BHP Billiton Ltd. (Symbol: BHP)
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Amount: | $2,031,822.63
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Maturity: | March 30, 2012
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Coupon: | 7.85%, payable monthly
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Price: | Par of $92.79
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Payout at maturity: | If final ADS price is less than trigger price, one BHP Billiton ADS; otherwise, par
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Initial share price: | $92.79
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Trigger price | $74.23, 80% of initial price
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Pricing date: | March 29
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Settlement date: | March 31
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90267G400
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