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UBS to price 6.6%-8.6% airbag autocallables linked to Cognizant
By Angela McDaniels
Tacoma, Wash., June 19 - UBS AG, London Branch plans to price 6.6% to 8.6% airbag autocallable yield optimization notes due June 30, 2014 linked to the common stock of Cognizant Technology Solutions Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact interest rate will be set at pricing.
The notes will be called automatically at par if Cognizant shares close at or above the initial share price on Sept. 23, 2013, Dec. 23, 2013, March 24, 2014 or June 23, 2014.
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 Cognizant shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
The notes are expected to price June 21 and settle June 28.
The Cusip number is 90271C874.
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