By Jennifer Chiou
New York, Aug. 29 - UBS AG priced a $5.27 million offering of principal-protected callable spread daily range accrual notes due Aug. 31, 2022 linked to the 30-year and two-year swap rates, according to a 424B2 filing with the Securities and Exchange Commission.
Interest on the notes will accrue at 7.6% per year times the proportion of days the 30-year swap rate exceeds the two-year swap rate. Interest will be paid and reset quarterly.
The notes are callable at par plus accrued interest on any interest payment date beginning August 2008 onwards.
If the notes are not called, the payout at maturity will be par plus accrued interest, if any.
UBS Investment Bank and UBS Financial Services Inc. are the underwriters.
| Issuer: | UBS AG
|
| Issue: | Principal-protected callable spread daily range accrual notes
|
| Amount: | $5,272,000
|
| Maturity: | Aug. 31, 2022
|
| Coupon: | 7.6% per year times the proportion of days the 30-year swap rate exceeds the two-year swap rate; payable and reset quarterly
|
| Price: | Par
|
| Call: | At par plus accrued interest on interest payment dates beginning August 2008 onwards
|
| Payout at maturity: | Par plus accrued interest
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 31
|
| Underwriters: | UBS Investment Bank and UBS Financial Services Inc.
|
| Fees: | 2%
|
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