Published on 4/15/2016 in the Prospect News Structured Products Daily.
New Issue: UBS prices $449,950 contingent absolute return autocallables tied to First Solar
New York, April 15 – UBS AG, London Branch priced $449,950 of 0% contingent absolute return autocallable optimization securities due April 24, 2017 linked to the common stock of First Solar, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 9.94% per year if First Solar shares close at or above the initial share price on any observation date, which occurs every quarter.
If the notes are not called and First Solar shares finish at or above the trigger price, 65% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. 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: | Contingent absolute return autocallable optimization securities
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| Underlying stock: | First Solar, Inc. (Nasdaq: FSLR)
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| Amount: | $449,950
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| Maturity: | April 24, 2017
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to share price decline
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| Call: | Automatically at par plus 9.94% per year if First Solar shares close at or above initial share price on any observation date, which occurs every quarter
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| Initial share price: | $59.59
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| Trigger price: | $38.73, 65% of initial price
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| Pricing date: | April 15
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| Settlement date: | April 20
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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: | 90275V340
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