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UBS plans 5%-6.5% trigger yield optimization notes on Wells Fargo
By Marisa Wong
Madison, Wis., July 31 - UBS AG, London Branch plans to price 5% to 6.5% trigger yield optimization notes due Aug. 8, 2014 linked to the common stock of Wells Fargo & Co., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
The face amount of each note will be equal to the initial price of Wells Fargo stock.
The payout at maturity will be par unless the final price of Wells Fargo stock is less than 70% of the initial share price, in which case investors will receive one Wells Fargo share per note.
The notes (Cusip: 90268U879) are expected to price on Aug. 2 and settle on Aug. 7.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
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