By Marisa Wong
Madison, Wis., Aug. 4 - UBS AG, London Branch priced $100,000 of trigger phoenix autocallable optimization securities due Aug. 13, 2012 linked to Occidental Petroleum Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Occidental stock closes at or above the trigger price - 70% of the initial share price - on any quarterly observation date, the issuer will pay a contingent coupon of 12.44%.
If the share price is greater than or equal to the initial price on any of the observation dates, the notes will be called at par of $10 plus the contingent coupon.
The payout at maturity will be par plus the contingent coupon if the notes are not called and the Occidental share price finishes at or above the trigger price.
If the shares finish below the trigger, investors will be exposed to the decline.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Occidental Petroleum Corp. (NYSE: OXY)
|
| Amount: | $100,000
|
| Maturity: | Aug. 13, 2012
|
| Coupon: | 12.44%, payable quarterly, if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and shares finish at or above trigger price, par plus contingent coupon; otherwise, full exposure to decline in share price
|
| Initial price: | $87.76
|
| Trigger price: | $61.43, 70% of initial price
|
| Call option: | At par plus contingent coupon if share price at or above initial price on any quarterly observation date
|
| Pricing date: | Aug. 4
|
| Settlement date: | Aug. 9
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90268B566
|
© 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.
