By Angela McDaniels
Tacoma, Wash., Feb. 11 - UBS AG, London Branch priced $19.44 million of phoenix autocallable optimization securities due Feb. 15, 2012 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Ford stock closes at or above the trigger price - 75% of the initial share price - on a quarterly observation date, the issuer will pay a contingent coupon that quarter at the rate of 12.25% per year.
If Ford stock closes at or above the initial share price on any quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the stock finishes at or above 75% of the initial price, the payout at maturity will be par. Otherwise, the payout will be par plus the stock return.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Phoenix autocallable optimization securities
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Underlying stock: | Ford Motor Co. (NYSE: F)
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Amount: | $19,438,770
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Maturity: | Feb. 15, 2012
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Coupon: | 12.25% if Ford stock closes at or above the trigger price on an observation date, otherwise none; payable quarterly
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Price: | Par of $10.00
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Payout at maturity: | Par if final share price is greater than or equal to trigger price; otherwise, par plus stock return
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Call: | At par plus coupon payment if Ford's shares close at or above the initial price on any quarterly observation date
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Initial share price: | $16.09
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Trigger price: | $12.07, or 75% of initial price
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Pricing date: | Feb. 9
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Settlement date: | Feb. 14
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90267F550
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