Published on 3/19/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.52 million contingent absolute return autocallables linked to Medivation
By Jennifer Chiou
New York, March 19 - UBS AG, London Branch priced $3,516,290 of 0% contingent absolute return autocallable optimization securities due March 23, 2015 linked to the common stock of Medivation, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 14.7% if Medivation stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the trigger price, 62.5% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Contingent absolute return autocallable optimization securities
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Underlying stock: | Medivation, Inc. (Symbol: MDVN)
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Amount: | $3,516,290
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Maturity: | March 23, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to stock decline
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Call: | At par plus 14.7% per year if Medivation stock closes at or above initial share price on any quarterly observation date
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Initial share price: | $67.76
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Trigger price: | $42.35, 62.5% of initial share price
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Pricing date: | March 14
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Settlement date: | March 19
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90272V343
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