Published on 10/21/2011 in the Prospect News Structured Products Daily.
New Issue: UBS prices $99,967 10.33% trigger yield optimization notes on Cummins
By Susanna Moon
Chicago, Oct. 21 - UBS AG, London Branch priced $99,967 of 10.33% annualized trigger yield optimization notes due April 26, 2012 linked to Cummins Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is equal to the initial price of Cummins stock.
Interest is payable monthly.
The payout at maturity will be par in cash unless the stock finishes below the trigger level - 61% of the initial share price - in which case investors will receive one Cummins share per note.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger yield optimization notes
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Underlying stock: | Cummins Inc. (NYSE: CMI)
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Amount: | $99,967.42
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Maturity: | April 26, 2012
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Coupon: | 10.33%, payable monthly
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Price: | Par of $94.22
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Payout at maturity: | If stock finishes below trigger price, one Cummins share; otherwise, par
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Initial share price: | $94.22
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Trigger price: | $57.47, 61% of initial price
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Pricing date: | Oct. 21
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Settlement date: | Oct. 26
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1%
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Cusip: | 90267N793
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