Published on 7/28/2011 in the Prospect News Structured Products Daily.
New Issue: UBS prices $384,727 of 10.7% trigger yield optimization notes on Hess
By Susanna Moon
Chicago, July 28 - UBS AG, London Branch priced $384,727 of 10.7% trigger yield optimization notes due Aug. 2, 2012 linked to Hess Corp. 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 Hess stock.
Interest is payable monthly.
The payout at maturity will be par unless the final price of Hess stock is less than 85% of the initial share price, in which case investors will receive one Hess 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: | Hess Corp. (NYSE: HES)
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Amount: | $384,727.45
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Maturity: | Aug. 2, 2012
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Coupon: | 10.7%, payable monthly
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Price: | Par of $70.45
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Payout at maturity: | If final share price is less than trigger price, one Hess share per note; otherwise, par
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Initial share price: | $70.45
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Trigger price: | $59.88, 85% 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: | 1.5%
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Cusip: | 90268B269
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