By Jennifer Chiou
New York, March 4 - UBS AG, London Branch priced $18,990,590 of contingent income autocallable securities due March 11, 2015 linked to Terex Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.2% if the stock closes at or above its 70% barrier level on a determination date for that quarter.
The notes will be redeemed at par plus the contingent coupon if the stock closes at or above its initial level on any of the first three quarterly redemption determination dates.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon unless Terex shares finish below the 70% barrier level, in which case investors will be fully exposed to any losses.
UBS Securities LLC is the agent with Morgan Stanley Smith Barney LLC as distributor.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Terex Corp. (NYSE: TEX)
|
| Amount: | $18,990,590
|
| Maturity: | March 11, 2015
|
| Coupon: | 11.2% per year, payable quarterly if stock closes at or above its barrier level for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If stock finishes at or above its barrier level, par plus the final contingent coupon; otherwise, full exposure to losses
|
| Call: | At par plus the contingent coupon if stock closes at or above its initial level on any of the first three quarterly determination dates
|
| Initial shares price: | $44.53
|
| Barrier level: | $31.17, 70% of initial level
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 5
|
| Agent: | UBS Securities LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 1.5%
|
| Cusip: | 90271T828
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
