By Susanna Moon
Chicago, July 2 - UBS AG, London Branch priced $4.1 million of contingent income autocallable securities due July 1, 2016 linked to Blackstone Group LP shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will a contingent payment at an annualized rate of 17.11% for each quarter that Blackstone stock closes at or above the downside threshold level - 70% of the initial share price - on a quarterly determination date.
If the stock closes at or above the initial share price on any of the first 11 determination dates, the notes will be redeemed at par plus the contingent payment.
The payout at maturity will be par plus the contingent payment unless the final share price is less than the downside threshold level, in which case the payout will be a number of Blackstone shares equal to the principal amount of notes divided by the initial share price or, at Barclays' option, the cash value of those shares.
UBS Securities LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Blackstone Group LP (Symbol: BX)
|
| Amount: | $4,102,000
|
| Maturity: | July 1, 2016
|
| Coupon: | 17.11% annualized for each quarter that closing price is at or above barrier level on quarterly determination date
|
| Price: | Par
|
| Payout at maturity: | If shares finish at or above barrier level, par plus contingent quarterly payment; otherwise, full exposure to losses
|
| Initial price: | $21.06
|
| Barrier level: | $14.74, 70% of initial share price
|
| Call: | Par plus contingent payment if shares close above initial share price on first 11 determination dates
|
| Pricing date: | June 28
|
| Settlement date: | July 3
|
| Agent: | UBS Securities LLC
|
| Dealer: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2.25%
|
| Cusip: | 90271L171
|
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