Published on 1/19/2011 in the Prospect News Structured Products Daily.
New Issue: UBS sells $5.5 million 9.7% trigger yield optimization notes on Expedia
By Susanna Moon
Chicago, Jan. 19 - UBS AG, London Branch priced $5.5 million of 9.7% trigger yield optimization notes due July 20, 2011 based on the performance of Expedia, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face amount of $27.30, which is equal to the initial share price of Expedia stock.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than 80% of the initial share price, in which case the payout will be one Expedia share per note.
UBS Financial Services Inc. and UBS Securities Inc. are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger yield optimization notes
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Underlying stock: | Expedia, Inc. (Symbol: EXPE)
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Amount: | $5,500,131
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Maturity: | July 20, 2011
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Coupon: | 9.7%, payable monthly
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Price: | Par of $27.30
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Payout at maturity: | If final share price is less than trigger price, one Expedia share; otherwise, par
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Initial share price: | $27.30
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Trigger price: | $21.84, or 80% of initial price
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Pricing date: | Jan. 14
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Settlement date: | Jan. 21
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Agents: | UBS Financial Services Inc. and UBS Securities Inc.
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Fees: | 1%
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Cusip: | 90267F477
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