By Jennifer Chiou
New York, July 14 – UBS AG, London Branch priced $144,400 of trigger phoenix autocallable optimization securities due July 21, 2015 linked to the common stock of First Solar, Inc., according to an FWP filing with the Securities and Exchange Commission.
If First Solar stock closes at or above the trigger price, 70% of the initial share price, on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 12.25% 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 of $10 plus the contingent coupon.
If the notes are not called and First Solar 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 Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | First Solar, Inc. (Nasdaq: FSLR)
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| Amount: | $144,400
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| Maturity: | July 21, 2015
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| Coupon: | 12.25% per year, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if First Solar shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if First Solar shares close at or above initial price on any quarterly observation date
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| Initial share price: | $63.27
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| Trigger price: | $44.29, 70% of initial share price
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| Pricing date: | July 14
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| Settlement date: | July 17
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90272N697
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