By E. Janene Geiss
Philadelphia, May 28 - UBS AG priced $12.12 million of 12.07% annualized yield optimization notes with contingent protection due Nov. 28, 2008 linked to the common stock of EMC Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
Each note has a principal amount of $17.06, equal to the initial price of EMC stock.
If EMC stock falls below the trigger price - 70% of the initial price - during the life of the notes, the payout at maturity will be one EMC 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: | EMC Corp. (NYSE: EMC)
|
| Amount: | $12,122,975
|
| Maturity: | Nov. 28, 2008
|
| Coupon: | 12.07%, payable quarterly
|
| Price: | Par of $17.06
|
| Payout at maturity: | If EMC stock falls below 70% of initial price during life of notes, one EMC share per note; otherwise, par
|
| Initial price: | $17.06
|
| Trigger price: | $11.94, 70% of initial price
|
| Pricing date: | May 23
|
| Settlement date: | May 30
|
| Underwriters: | UBS Financial Services Inc.; UBS Investment Bank
|
| Fees: | 1%
|
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