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UBS plans 4.5%-6% one-year airbag autocallable notes linked to Corning
By Susanna Moon
Chicago, Oct. 9 - UBS AG, London Branch plans to price 4.5% to 6% airbag autocallable yield optimization notes due Oct. 20, 2014 linked to Corning Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact interest rate will be set at pricing.
The notes will be called at par if Corning shares close at or above the initial share price on any quarterly review date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Corning shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
The notes will price on Oct. 11 and settle on Oct. 17.
The Cusip number is 90271M708.
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