Published on 9/26/2011 in the Prospect News Structured Products Daily.
New Issue: UBS prices $250,000 12.28% reverse convertibles tied to Apple
By Jennifer Chiou
New York, Aug. 16 - UBS AG, London Branch priced $250,000 of 12.28% annualized reverse convertible securities due March 29, 2012 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Apple shares fall below the trigger price - 80% of the initial share price - during the life of the notes and finish below the initial share price, in which case the payout will be 2.4803 Apple shares per $1,000 of notes.
UBS Securities LLC and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Reverse convertible notes
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Underlying stock: | Apple Inc. (Symbol: AAPL)
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Amount: | $250,000
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Maturity: | March 29, 2012
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Coupon: | 12.28%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Apple shares fall below the trigger price and finish below the initial price, in which case 2.4803 shares of Apple stock
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Initial price: | $403.17
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Trigger price: | $322.54, 80% of initial price
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Pricing date: | Sept. 26
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Settlement date: | Sept. 29
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Underwriters: | UBS Securities LLC and UBS Investment Bank
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Fees: | 2.75%
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Cusip: | 902674GP9
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