Published on 6/6/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $99,984 24.52% trigger yield optimization notes linked to Cliffs Natural
New York, June 6 - UBS AG, London Branch priced $99,984 of 24.52% annualized trigger yield optimization notes due Dec. 11, 2013 linked to the common stock of Cliffs Natural Resources Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is $18.55, which is equal to the initial share price of Cliffs Natural stock.
Interest is payable monthly.
The payout at maturity will be par unless the final price of Cliffs Natural stock is less than 80% of the initial share price, in which case investors will receive one Cliffs Natural share per note.
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 stock: | Cliffs Natural Resources Inc. (NYSE: CLF)
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Amount: | $99,984
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Maturity: | Dec. 11, 2013
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Coupon: | 24.52%, payable monthly
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Price: | Par of $18.55
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Payout at maturity: | If final share price is less than trigger price, one Cliffs Natural share; otherwise, par
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Initial share price: | $18.55
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Trigger price: | $14.84, 80% of initial price
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Pricing date: | June 6
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Settlement date: | June 11
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 0.5%
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Cusip: | 90271J366
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