Published on 10/19/2010 in the Prospect News Structured Products Daily.
New Issue: UBS prices $6.06 million 9.75% yield optimization notes linked to Barrick Gold
By Angela McDaniels
Tacoma, Wash., Oct. 19 - UBS AG, London Branch priced $6.06 million of 9.75% yield optimization notes with contingent protection due Oct. 21, 2011 linked to the common stock of Barrick Gold Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes have a face value of $47.99 each, which is equal to the initial share price of Barrick Gold stock.
Interest is payable monthly.
The payout at maturity will be par unless the final price of Barrick Gold stock is less than 80% of the initial share price, in which case the payout will be one share of Barrick Gold stock per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Yield optimization notes with contingent protection
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Underlying stock: | Barrick Gold Corp. (NYSE: ABX)
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Amount: | $6,060,321.17
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Maturity: | Oct. 21, 2011
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Coupon: | 9.75%, payable monthly
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Price: | Par of $47.99
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Payout at maturity: | If final price of Barrick Gold stock is less than trigger price, one Barrick Gold share; otherwise, par
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Initial share price: | $47.99
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Trigger price | $38.39, 80% of initial price
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Pricing date: | Oct. 15
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Settlement date: | Oct. 21
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90267F592
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