By Susanna Moon
Chicago, April 23 - UBS AG, London Branch priced $468,000 of 8.8% airbag autocallable yield optimization notes due April 25, 2014 linked to AOL Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par plus the coupon if the stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of AOL shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | AOL Inc. (Symbol: AOL)
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Amount: | $468,000
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Maturity: | April 25, 2014
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Coupon: | 8.8%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless final share price is less than conversion price, in which case 31.1915 AOL shares
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Call: | At par plus accrued interest if AOL stock closes at or above initial share price on quarterly call date
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Initial share price: | $37.72
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Conversion price: | $32.06, 85% of initial share price
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Pricing date: | April 19
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Settlement date: | April 25
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90271C254
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