Published on 1/28/2011 in the Prospect News Structured Products Daily.
New Issue: UBS prices $260,000 8.5% reverse convertibles linked to Dow Chemical
New York, Jan. 28 - UBS AG priced $260,000 of 8.5% reverse convertible notes due July 29, 2011 linked to Dow Chemical Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Dow Chemical shares fall below the protection price of $28.25, 80% of the initial price of $35.31, during the life of the notes and finish below the initial price in which case the payout will be 28.32059 shares of Dow Chemical stock.
UBS Securities LLC is the agent.
Issuer: | UBS AG
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Issue: | Reverse convertible notes
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Underlying stock: | Dow Chemical Co. (Symbol: DOW)
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Amount: | $260,000
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Maturity: | July 29, 2011
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Coupon: | 8.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Dow Chemical shares fall below the protection price of $28.25, 80% of the initial price, and finish below the initial price, in which case 28.32059 shares of Dow Chemical stock
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Initial price: | $35.31
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Protection price: | $28.25, 80% of $35.31
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Exchange ratio: | 28.32059
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | UBS Securities LLC
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Fees: | 1%
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