Published on 12/22/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.2 million contingent absolute return autocallables tied to ServiceNow
By Marisa Wong
Madison, Wis., Dec. 22 – UBS AG, London Branch priced $2.2 million of 0% contingent absolute return autocallable optimization securities due Dec. 28, 2015 linked to ServiceNow, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 12% if ServiceNow shares close at or above the initial price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the trigger price, 70% of the initial price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Contingent absolute return autocallable optimization securities
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Underlying stock: | ServiceNow, Inc. (Symbol: NOW)
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Amount: | $2,196,000
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Maturity: | Dec. 28, 2015
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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 losses
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Call: | At par plus 12% per year if ServiceNow stock closes at or above initial share price on any quarterly observation date
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Initial price: | $69.10
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Trigger price: | $48.37, 70% of initial share price
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Pricing date: | Dec. 19
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Settlement date: | Dec. 24
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90274F395
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