By Jennifer Chiou
New York, June 4 - UBS AG, London Branch priced $7 million of worst-of income autocallable securities due Dec. 5, 2013 linked to the common stocks of Netflix, Inc. and SanDisk Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 19.6% per year, payable monthly.
If both stocks close at or above their initial prices on a determination date, the securities will be called at par plus the coupon. The determination dates are July 1, July 31, Sept. 3, Oct. 1, Oct. 31 and Dec. 2, 2013.
If the notes are not called and the stocks finish at or above the downside threshold price, 65% of the initial prices, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline of the lesser-performing stock.
UBS Securities LLC is the agent.
| Issuer: | UBS AG, London Branch
|
| Issue: | Worst-of income autocallable securities
|
| Underlying stocks: | Netflix, Inc. (Symbol: NLFX) and SanDisk Corp. (Symbol: SNDK)
|
| Amount: | $7 million
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| Maturity: | Dec. 5, 2013
|
| Coupon: | 19.6%, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus coupon if stocks finish at or above the downside threshold price; otherwise, par plus decline of the lesser-performing stock
|
| Call: | Automatically at par plus coupon if both stocks close at or above their initial prices on a determination date
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| Initial share prices: | $147.06 for Netflix, $38.36 for SanDisk
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| Downside threshold price: | 65% of initial price
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| Pricing date: | May 31
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| Settlement date: | June 5
|
| Agent: | UBS Securities LLC
|
| Fees: | 1%
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| Cusip: | 90271C742
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