By Marisa Wong
Madison, Wis., April 22 – UBS AG, London Branch priced $841,100 of trigger phoenix autocallable optimization securities due April 23, 2018 linked to Lincoln National Corp. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annualized rate of 8% if the stock closes at or above the coupon barrier, 77.6% of the initial share price, on any quarterly observation date.
The notes will be called at par if Lincoln National shares close at or above the initial share price on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the 77.6% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Lincoln National Corp. (Symbol: LNC)
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| Amount: | $841,100
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| Maturity: | April 23, 2018
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| Coupon: | 8%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if Lincoln National shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if Lincoln National shares close at or above initial price on any quarterly observation date after six months
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| Initial share price: | $56.79
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| Trigger price: | $44.07, 77.6% of initial price
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90274T163
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