By E. Janene Geiss
Philadelphia, April 28 - UBS AG priced $6.94 million of 10.55% yield optimization notes with contingent protection due April 30, 2009 linked to the common stock of the Hartford Financial Services Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
Each note has a principal amount of $71.48, equal to the initial price of Hartford Financial stock.
If Hartford Financial stock falls below the trigger price - 65% of the initial price - during the life of the notes, the payout at maturity will be one Hartford Financial share per note. If the stock remains at or above the trigger price, the payout will be par.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Hartford Financial Services Group, Inc. (NYSE: HIG)
|
| Amount: | $6,939,135
|
| Maturity: | April 30, 2009
|
| Coupon: | 10.55%, payable quarterly
|
| Price: | Par of $71.48
|
| Payout at maturity: | If Hartford Financial stock falls below 65% of initial price during life of notes, one Hartford Financial share per note; otherwise, par
|
| Initial price: | $71.48
|
| Trigger price: | $46.46, 65% of initial price
|
| Pricing date: | April 24
|
| Settlement date: | April 30
|
| Underwriters: | UBS Financial Services Inc.; UBS Investment Bank
|
| Fees: | 2%
|
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