By Angela McDaniels
Tacoma, Wash., Jan. 10 - UBS AG, London Branch priced $10 million of worst-of income autocallable securities due April 11, 2014 linked to the common stocks of salesforce.com, inc. and Yelp Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 21% per year, payable monthly.
The notes will be called at par of $10 if both stocks close at or above their initial prices on Feb. 10 or March 10.
The payout at maturity will be par unless the final share price of either stock is less than its downside threshold level, 65% of its initial share price, in which case the payout will be a number of shares of the worst-performing stock equal to $10 divided by that stock's initial share price or, at the issuer's option, a cash amount equal to the value of those shares.
UBS Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | UBS AG, London Branch
|
| Issue: | Worst-of income autocallable securities
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| Underlying stocks: | salesforce.com, inc. (Symbol: CRM) and Yelp Inc. (Symbol: YELP)
|
| Amount: | $10 million
|
| Maturity: | April 11, 2014
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| Coupon: | 21%, payable monthly
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par unless either stock finishes below downside threshold price, in which case number of shares of worst-performing stock equal to $10 divided by that stock's initial share price or cash amount equal to value of those shares
|
| Call: | Automatically at par if both stocks close at or above their initial prices on Feb. 10 or March 10
|
| Initial share prices: | $56.94 for salesforce.com and $78.42 for Yelp
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| Downside thresholds: | $37.01 for salesforce.com and $50.97 for Yelp; 65% of initial share prices
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| Pricing date: | Jan. 8
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| Settlement date: | Jan. 13
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| Agent: | UBS Securities LLC
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| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 1%
|
| Cusip: | 90271T315
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