By Jennifer Chiou
New York, April 30 - UBS AG, London Branch priced $7.25 million of 11.75% yield optimization notes with contingent protection due April 29, 2011 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $76.49, which was the closing price of Freeport-McMoRan stock on the pricing date.
Interest is payable monthly.
If the final price of Freeport-McMoRan stock is greater than or equal to 75% of the initial price, the payout at maturity will be par. Otherwise, the payout will be one Freeport-McMoRan share per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying ADSs: | Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
|
| Amount: | $7,250,793.06
|
| Maturity: | April 29, 2011
|
| Coupon: | 11.75%, payable monthly
|
| Price: | Par of $76.49
|
| Payout at maturity: | If Freeport-McMoRan stock finishes below trigger price, one Freeport-McMoRan share per note; otherwise, par
|
| Initial ADS price: | $76.49
|
| Trigger price: | $57.37, 75% of initial price
|
| Pricing date: | April 28
|
| Settlement date: | April 30
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90267C227
|
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