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UBS to price 8.75% to 10% yield optimization notes linked to AT&T
By Angela McDaniels
Tacoma, Wash., Feb. 11 - UBS AG plans to price yield optimization notes with contingent protection due Feb. 27, 2009 linked to the common stock of AT&T Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes will carry a coupon of 8.75% to 10% per year, with the exact coupon to be determined at pricing. Interest will be payable quarterly.
Par will equal the price of one AT&T share on the pricing date, which will be Feb. 25. Settlement will occur on Feb. 29.
The payout at maturity will be par unless AT&T stock falls by 30% or more during the life of the notes, in which case the payout will be one share of AT&T per note.
UBS Financial Services Inc. and UBS Investment Bank will be the underwriters.
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