By Susanna Moon
Chicago, Oct. 14 – UBS AG, London Branch priced $2.27 million of trigger phoenix autocallable optimization securities due Oct. 17, 2019 linked to Cisco Systems, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annual rate of 7% if Cisco stock closes at or above the 73.5% trigger level on a observation date for that month.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any monthly observation date after one year.
If the notes are not called and Cisco shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Cisco Systems, Inc. (Symbol: CSCO)
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| Amount: | $2,272,000
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| Maturity: | Oct. 17, 2019
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| Coupon: | 7%, payable monthly if stock closes at or above trigger price on observation date for that month
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Cisco shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if Cisco shares close at or above initial price on a monthly observation date after one year
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| Initial share price: | $23.34
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| Trigger price: | $17.15, 73.5% of initial price
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| Pricing date: | Oct. 10
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| Settlement date: | Oct. 16
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90274B378
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