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UBS plans to price 21.25% reverse convertibles linked to Wynn Resorts
By Angela McDaniels
Tacoma, Wash., Oct. 14 - UBS AG plans to price 21.25% annualized reverse convertible notes due Feb. 1, 2010 linked to the common stock of Wynn Resorts Ltd., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Wynn Resorts stock falls below the trigger price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Wynn Resorts shares equal to $1,000 divided by the initial share price.
The notes are expected to price Oct. 27 and settle Oct. 30.
UBS Securities LLC and UBS Investment Bank are the underwriters.
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