UBS plans to price phoenix autocallable notes linked to Facebook

By Marisa Wong

Madison, Wis., July 24 - UBS AG, London Branch plans to price phoenix autocallable notes due Aug. 13, 2014 linked to the common stock of Facebook, Inc., according to an FWP filing with the Securities and Exchange Commission.

If Facebook stock closes at or above the trigger price, 70% of the initial price, on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at a rate of 10.3% per year. Otherwise, no coupon will be paid that quarter.

If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.

If the notes are not called and Facebook shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

UBS Investment Bank is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

The notes are expected to price July 26 and settle July 31.

The Cusip number is 902674MW7.

© 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.