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UBS changes coupon for yield optimization notes linked to Anadarko
By Angela McDaniels
Tacoma, Wash., Nov. 10 - UBS AG changed the coupon for its upcoming yield optimization notes with contingent protection due Feb. 19, 2010 linked to the common stock of Anadarko Petroleum Corp., according to an FWP filing with the Securities and Exchange Commission.
The three-month notes are now expected to carry an annualized coupon of 8% to 10.25% instead of 11.5% to 14%. Interest will be payable at maturity.
Each note will have a face amount equal to the closing price of Anadarko stock at pricing.
The payout at maturity will be par unless the final price of Anadarko stock is less than 75% of the initial price, in which case investors will receive one Anadarko share per note.
The notes are expected to price Nov. 13 and settle Nov. 18.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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