By Marisa Wong
Morgantown, W.Va., Oct. 27 – UBS AG, London Branch priced $570,000 of phoenix autocallable notes due Nov. 8, 2017 linked to the common stock of Honeywell International Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if the stock closes at or above its coupon barrier, 85% of its initial price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any observation date.
The payout at maturity will be par unless the stock finishes below its 85% trigger price, in which case investors will lose 1% for each 1% decline.
The final share price will be the average of the closing share prices on each of the five averaging dates ending Nov. 3, 2017.
J.P. Morgan Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Phoenix autocallable notes
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| Underlying index: | Honeywell International Inc. (Symbol: HON)
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| Amount: | $570,000
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| Maturity: | Nov. 8, 2017
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| Coupon: | 10.5% per year, payable on a quarter if the stock closes at or above barrier on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its trigger price, in which case investors will lose 1% for each 1% decline
|
| Call: | At par plus the contingent coupon if the stock closes at or above its initial level on any quarterly observation date
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| Initial price: | $108.96
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| Barrier/trigger price: | $92.62, 85% of initial price
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| Final price: | Average of the closing share prices on each of the five averaging dates ending Nov. 3, 2017
|
| Pricing date: | Oct. 21
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| Settlement date: | Oct. 26
|
| Agents: | J.P. Morgan Securities LLC and UBS Investment Bank
|
| Fees: | 1%
|
| Cusip: | 90270KHG7
|
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