By Susanna Moon
Chicago, April 25 - UBS AG priced $27.89 million of 10% annualized yield optimization notes with contingent protection due Oct. 30, 2008 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
Each note has a principal amount of $31.45, equal to the initial price of Microsoft stock.
If Microsoft stock falls below the trigger price - 75% of the initial price - during the life of the notes, the payout at maturity will be one Microsoft 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: | Microsoft Corp. (Nasdaq: MSFT)
|
| Amount: | $27,883,601
|
| Maturity: | Oct. 30, 2008
|
| Coupon: | 10%, payable quarterly
|
| Price: | Par of $31.45
|
| Payout at maturity: | If Microsoft stock falls below 75% of initial price during life of notes, one Microsoft share per note; otherwise, par
|
| Initial price: | $31.45
|
| Trigger price: | $23.59, 75% of initial price
|
| Pricing date: | April 23
|
| Settlement date: | April 30
|
| Underwriters: | UBS Financial Services Inc.; UBS Investment Bank
|
| Fees: | 1%
|
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