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UBS to price yield optimization notes linked to S&P Depositary Receipts
By E. Janene Geiss
Philadelphia, June 17 - UBS AG plans to price yield optimization notes with contingent protection due Dec. 31, 2008 linked to S&P Depositary Receipts, according to an FWP filing with the Securities and Exchange Commission.
The notes will have of coupon of 8% to 9%, with the exact rate to be set at pricing. Interest will be payable in September and at maturity.
If shares of the fund fall below the trigger price - 80% of the initial share price - during the life of the notes, the payout will be one share per note. If the share price remains at or above the trigger price, the payout will be par.
The issue is expected to price June 24 and settle June 30.
UBS Investment Bank and UBS Financial Services Inc. are the underwriters.
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