Published on 5/14/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.44 million 10% autocallables linked to Facebook
By Angela McDaniels
Tacoma, Wash., May 14 - UBS AG, London Branch priced $2.44 million of 10% fixed-coupon autocallable securities due May 12, 2016 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus accrued interest if Facebook stock closes at or above the initial share price on any of the first seven quarterly determination dates.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 67.8% of the initial share price, the payout at maturity will be par plus accrued interest. If the final share price is less than the downside threshold level, the payout will be a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer's option, an amount in cash equal to the value of those shares.
UBS Financial Services Inc. is the agent.
| Issuer: | UBS AG, London Branch
|
| Issue: | Fixed-coupon autocallable securities
|
| Underlying stock | : | Facebook, Inc. (Symbol: FB)
|
| Amount: | $2,435,000
|
| Maturity: | May 12, 2016
|
| Coupon: | 10%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus accrued interest; if final share price is less than downside threshold level, number of Facebook shares equal to $1,000 divided by initial share price or, at issuer's option, cash amount equal to value of those shares
|
| Call: | Automatically at par plus accrued interest if Facebook stock closes at or above initial share price on any of first seven quarterly determination dates
|
| Initial share price: | $57.27
|
| Trigger price: | $38.83, 67.8% of initial share price
|
| Pricing date: | May 9
|
| Settlement date: | May 14
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 1.96%
|
| Cusip: | 90270KBQ1
|
© 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.
