Published on 10/18/2011 in the Prospect News Structured Products Daily.
New Issue: UBS prices $459,126 of 12.55% trigger yield optimization notes linked to Joy Global
By Jennifer Chiou
New York, Oct. 18 - UBS AG, London Branch priced $459,126 of 12.55% trigger yield optimization notes due Oct. 21, 2013 linked to Joy Global Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is equal to the initial price of Joy Global stock.
Interest is payable monthly.
The payout at maturity will be par unless the final price of Joy Global stock is less than 70% of the initial share price, in which case investors will receive one Joy Global share per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger yield optimization notes
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Underlying stock: | Joy Global Inc. (NYSE: JOYG)
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Amount: | $459,126.50
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Maturity: | Oct. 21, 2013
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Coupon: | 12.55%, payable monthly
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Price: | Par of $78.82
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Payout at maturity: | If final share price is less than trigger price, one Joy Global share per note; otherwise, par
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Initial share price: | $78.82
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Trigger price: | $55.17, 70% of initial price
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Pricing date: | Oct. 14
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Settlement date: | Oct. 19
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.75%
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Cusip: | 90268F864
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