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UBS plans trigger phoenix autocallable securities linked to Nvidia
By Marisa Wong
Madison, Wis., Sept. 24 - UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due March 31, 2015 linked to Nvidia Corp. shares, according to an FWP with the Securities and Exchange Commission.
If Nvidia stock closes at or above the trigger price - 75% of the initial share price - on a quarterly observation date, the notes will pay a contingent coupon at an annual rate of 8.25% to 10.25% for that quarter. The exact contingent quarterly coupon will be set at pricing.
If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and Nvidia shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to any losses.
The notes (Cusip: 90271M492) are expected to price on Sept. 26 and settle on Sept. 30.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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