By Laura Lutz
Des Moines, Nov. 21 - UBS AG priced $18.49 million of 13.77% yield optimization notes with contingent protection due May 23, 2008 linked to the common stock of the Merrill Lynch & Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable in February and at maturity.
Each note has a principal amount of $53.87, equal to the initial price of Merrill Lynch stock.
If Merrill Lynch stock falls below the trigger price - 50% of the initial price - during the life of the notes, the payout will be one Merrill Lynch share per note. If the stock remains at or above the trigger price, the payout will be par.
UBS Investment Bank and UBS Financial Services Inc. are the underwriters.
| Issuer: | UBS AG
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Merrill Lynch & Co. Inc. (NYSE: MER)
|
| Amount: | $18,485,006
|
| Maturity: | May 23, 2008
|
| Coupon: | 13.77%
|
| Price: | Par of $53.87
|
| Payout at maturity: | If Merrill Lynch stock falls below 50% of initial price during life of notes, one Merrill Lynch share per note; otherwise, par
|
| Initial price: | $53.87
|
| Trigger price: | $26.94 50% of initial price
|
| Pricing date: | Nov. 19
|
| Settlement date: | Nov. 23
|
| Underwriters: | UBS Investment Bank; UBS Financial Services Inc.
|
| Fees: | 1%
|
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