By Angela McDaniels
Tacoma, Wash., Nov. 25 - UBS AG priced $3.1 million of 100% principal protection callable spread daily range accrual notes due Nov. 29, 2013 linked to the 30-year and two-year swap rates, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals 6.8% per year multiplied by the proportion of days on which the spread of the 30-year swap rate over the two-year swap rate is at least zero.
Beginning in May 2009, the notes are callable at par on any interest payment date.
If the notes are not called, the payout at maturity will be par.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG
|
| Issue: | 100% principal protection callable spread daily range accrual notes
|
| Amount: | $3.1 million
|
| Maturity: | Nov. 29, 2013
|
| Coupon: | 6.8% per year multiplied by proportion of days on which 30-year swap rate is greater than or equal to two-year swap rate; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from May 2009 onward
|
| Pricing date: | Nov. 24
|
| Settlement date: | Nov. 28
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
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