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UBS plans 6%-8% airbag yield optimization notes linked to Coach
By Angela McDaniels
Tacoma, Wash., June 11 - UBS AG, London Branch plans to price 6% to 8% annualized airbag yield optimization notes due Dec. 20, 2012 linked to the common stock of Coach, Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
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 Coach shares equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial share price.
The notes (Cusip: 90268U440) are expected to price June 14 and settle June 19.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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