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UBS plans 10.75%-13.5% yield optimization notes tied to Corning stock
By Susanna Moon
Chicago, Aug. 19 - UBS AG, London Branch plans to price 10.75% to 13.5% yield optimization notes with contingent protection due Feb. 28, 2011 based on the performance of Corning Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If the final price of Corning stock is greater than or equal to 80% of the initial price, the payout at maturity will be par in cash. Otherwise, the payout will be one Corning share per note.
The notes (Cusip 90267C722) will price on Aug. 27 and settle on Aug. 31.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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