By Wendy Van Sickle
Columbus, Ohio, April 11 – UBS AG, London Branch priced $10 million phoenix autocallable notes with memory interest due April 24, 2023 linked to Barrick Gold Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 68.95% of the initial level, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annualized rate of 10%, plus any previously unpaid contingent coupon payments.
The notes will be called at par if the shares close at or above the initial share price on any observation date other than the final date.
The payout at maturity will be par unless the stock finishes below the trigger level, in which case investors will be fully exposed to the stock decline.
UBS Investment Bank is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Phoenix autocallable notes with memory interest
|
| Underlying stock: | Barrick Gold Corp.
|
| Amount: | $10 million
|
| Maturity: | April 24, 2023
|
| Coupon: | 10% annualized, plus any previously unpaid coupons, if stock closes at or above coupon barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if stock finishes at or above trigger level; otherwise full exposure to loss
|
| Call: | At par if stock closes at or above initial level on a quarterly observation date
|
| Initial price: | $24.61
|
| Coupon barrier/trigger level: | $16.97, 68.95% of initial price
|
| Pricing date: | April 7
|
| Settlement date: | April 12
|
| Underwriter: | UBS Investment Bank
|
| Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 90279D4Y9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
