Published on 1/31/2012 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.25 million 8.95% airbag notes linked to SanDisk
By Angela McDaniels
Tacoma, Wash., Jan. 31 - UBS AG, London Branch priced $2.25 million of 8.95% annualized airbag yield optimization notes due July 31, 2012 linked to the common stock of SanDisk Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of SanDisk shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Airbag yield optimization notes
|
| Underlying stock: | SanDisk Corp. (Symbol: SNDK)
|
| Amount: | $2,252,000
|
| Maturity: | July 31, 2012
|
| Coupon: | 8.95%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than conversion price, number of SanDisk shares equal to share delivery amount; otherwise, par
|
| Share delivery amount: | 25.1889, equal to $1,000 divided by conversion price
|
| Initial share price: | $46.70
|
| Conversion price: | $39.70, 85% of initial share price
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 31
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1%
|
| Cusip: | 90267W850
|
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