Published on 7/28/2011 in the Prospect News Structured Products Daily.
New Issue: UBS prices $284,791 of 10.74% trigger yield optimization notes on Freeport McMoRan
By Susanna Moon
Chicago, July 28 - UBS AG, London Branch priced $284,791 of 10.74% trigger yield optimization notes due Aug. 2, 2012 linked to Freeport McMoRan Copper & Gold Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is equal to the initial price of Freeport McMoRan stock.
Interest is payable monthly.
The payout at maturity will be par unless the final price of Freeport McMoRan stock is less than 75% of the initial share price, in which case investors will receive one Freeport McMoRan share per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger yield optimization notes
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Underlying stock: | Freeport McMoRan Copper & Gold Inc. (NYSE: FCX)
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Amount: | $284,790.80
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Maturity: | Aug. 2, 2012
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Coupon: | 10.74%, payable monthly
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Price: | Par of $54.04
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Payout at maturity: | If final share price is less than trigger price, one Freeport McMoRan share per note; otherwise, par
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Initial share price: | $54.04
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Trigger price: | $40.53, or 75% of initial price
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Pricing date: | July 28
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Settlement date: | Aug. 2
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90268B277
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