By Angela McDaniels
Tacoma, Wash., July 29 – UBS AG, London Branch priced $2.39 million of 6.6% airbag autocallable yield notes due Aug. 2, 2017 linked to the common stock of Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par if Southwest shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Southwest shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Airbag autocallable yield notes
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Underlying stock: | Southwest Airlines Co. (Symbol: LUV)
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Amount: | $2,391,000
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Maturity: | Aug. 2, 2017
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Coupon: | 6.6%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless final share price is less than conversion price, in which case number of Southwest shares equal to $1,000 divided by conversion price
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Call: | Automatically at par if Southwest shares close at or above initial share price on any quarterly observation date
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Initial share price: | $37.48
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Conversion price: | $31.86, 85% of initial share price
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Pricing date: | July 27
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Settlement date: | July 29
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90275Y146
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