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UBS to price trigger phoenix autocallable securities linked to Humana
By Toni Weeks
San Diego, June 25 - UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due June 30, 2017 linked to the common stock of Humana Inc., according to an FWP filing with the Securities and Exchange Commission.
If the price of Humana stock closes at or above the trigger price - 70% of the initial share price - on any monthly observation date, the issuer will pay a contingent coupon of 7.5% to 10% per year. Otherwise, no coupon will be paid for that interest period.
If the share price is greater than or equal to the initial price on any observation date after one year, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the Humana share price finishes 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.
The notes (Cusip: 90268U556) are expected to price June 27 and settle June 29.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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