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UBS plans 7.2%-9.2% trigger yield optimization notes tied to MetLife
By Susanna Moon
Chicago, Jan. 10 - UBS AG, London Branch plans to price 7.2% to 9.2% trigger yield optimization notes with contingent protection due Jan. 23, 2012 based on the common stock of MetLife Inc., according to an FWP with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
The face amount of each note will be equal to the initial share price of MetLife stock.
The payout at maturity will be par unless the final price of MetLife stock is less than 80% of the initial share price, in which case investors will receive one MetLife share per note.
The notes (Cusip 90267F527) are expected to price on Jan. 14 and settle on Jan. 21.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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