Published on 9/16/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $150,000 12.13% three-month reverse convertibles linked to First Solar
By Toni Weeks
San Luis Obispo, Calif., Sept. 16 - UBS AG, London Branch priced $150,000 of 12.13% annualized reverse convertible notes due Dec. 19, 2013 linked to First Solar, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par in cash unless First Solar shares fall below the protection level, 66.75% of the initial price, during the life of the notes and finish below the initial price, in which case the payout will be a number of First Solar shares equal to $1,000 principal amount divided by the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Reverse convertible notes
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Underlying stock: | First Solar, Inc. (Symbol: FSLR)
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Amount: | $150,000
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Maturity: | Dec. 19, 2013
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Coupon: | 12.13%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless First Solar shares fall below the protection price and finish below the initial price, in which case 25.9875 First Solar shares
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Initial price: | $38.48
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Protection price: | $25.69, 66.75% of initial price
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Exchange ratio: | 25.9875
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Pricing date: | Sept. 16
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Settlement date: | Sept. 19
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.75%
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Cusip: | 90270KAF6
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