By Wendy Van Sickle
Columbus, Ohio, March 22 – UBS AG, London Branch priced $8.17 million of trigger autocallable contingent yield notes due March 20, 2020 linked to the common stock of Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if the shares close at or above the downside threshold level, 77.5% of the initial share price, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if the shares close at or above the initial share price on any observation date other than the final one.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 77.5% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying stock: | Chevron Corp.
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Amount: | $8,169,000
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Maturity: | March 20, 2020
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Contingent coupon: | 8%, payable quarterly if stock closes at or above downside threshold on observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par unless stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
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Call: | After six months, automatically at par if stock closes at or above initial level on any observation date other than the final one
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Initial price: | $107.68
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Downside threshold: | $83.45, 77.5% of initial price
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Pricing date: | March 17
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Settlement date: | March 22
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90280M798
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