Published on 10/29/2007 in the Prospect News Structured Products Daily.
New Issue: UBS prices $48.35 million 11.4% yield optimization notes linked to Citigroup
By E. Janene Geiss
Philadelphia, Oct. 29 - UBS AG priced a $48.35 million issue of 11.4% yield optimization notes due Oct. 31, 2008 linked to the common stock of Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par of $41.23 unless the stock falls below the trigger price of $30.92 - 75% of the initial share price - during the life of the notes, in which case the payout will be one share of Citigroup stock per note.
UBS Investment Bank and UBS Financial Services Inc. are the underwriters.
Issuer: | UBS AG
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Issue: | Yield optimization notes with contingent protection
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Underlying stock: | Citigroup Inc. (NYSE: C)
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Amount: | $48,348,524
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Maturity: | Oct. 31, 2008
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Coupon: | 11.4%, payable quarterly
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Price: | Par of $41.23
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Payout at maturity: | Par unless the stock falls below the trigger price during the life of the notes, in which case payout will be one Citigroup share per note
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Initial share price: | $41.23
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Trigger price: | $30.92, 75% of initial share price
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Pricing date: | Oct. 25
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Settlement date: | Oct. 31
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Underwriters: | UBS Investment Bank and UBS Financial Services Inc.
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Fees: | 2%
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