Published on 12/12/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $10 million 19% worst-of income autocallables linked to two stocks
By Susanna Moon
Chicago, Dec. 12 - UBS AG, London Branch priced $10 million of 19% income autocallable securities due March 13, 2014 linked to the worst performing of the common stocks of Facebook, Inc. and Tesla Motors, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be redeemed at par plus the contingent coupon if each stock closes at or above their respective initial levels on any of the first two redemption determination dates.
The payout at maturity will be par plus the final contingent coupon unless either stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
UBS Securities LLC is the agent. Morgan Stanley Smith Barney LLC will handle distribution.
| Issuer: | UBS AG, London Branch
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| Issue: | Worst-of income autocallable securities
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| Underlying stocks: | Facebook, Inc. (Symbol: FB) and Tesla Motors, Inc. (Symbol: TSLA)
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| Amount: | $10 million
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| Maturity: | March 13, 2014
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| Coupon: | 19% per year, payable monthly
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| Price: | Par of $10
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| Payout at maturity: | If each stock finishes at or above its downside threshold level, par plus the final contingent coupon; otherwise, full exposure to losses of worst performing stock
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| Call: | At par plus the contingent coupon if each stock closes at or above its initial level on any of the first two determination dates
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| Initial levels: | $50.245 for Facebook, $142.19 for Tesla
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| Barrier/ levels: | $32.66 for Facebook, $92.42 for Tesla; 65% of initial levels
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| Pricing date: | Dec. 10
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| Settlement date: | Dec. 13
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| Agent: | UBS Securities LLC with Morgan Stanley Smith Barney LLC as dealer
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| Fees: | 1%
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| Cusip: | 90271R814
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