Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers U > Headlines for UBS AG, London Branch > News item |
UBS plans five-year trigger phoenix autocallables on Bank of America
By Susanna Moon
Chicago, Feb. 19 - UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due Feb. 28, 2018 linked to Bank of America Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
If Bank of America stock closes at or above the 63% to 68% trigger level on a monthly observation date, the notes will pay a contingent coupon at an annualized rate of 8% for that month.
If the shares close at or above the initial price on any monthly observation date after one year, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and Bank of America shares finish at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to the share price decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
The notes will price on Feb. 22 and settle on Feb. 28.
The Cusip number is 90271B579.
© 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.