By Susanna Moon
Chicago, Sept. 23 – UBS AG, London Branch priced $890,000 of trigger phoenix autocallable optimization securities due March 28, 2016 linked to Workday, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.3% if the stock closes at or above its barrier level, 70% of its initial level, on an observation date for that quarter.
The notes will be called at par if Workday stock closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and Workday stock finishes at or above its 70% barrier level, the payout at maturity will be par.
Otherwise, investors will be exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Workday, Inc. (Symbol: WDAY)
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| Amount: | $890,000
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| Maturity: | March 28, 2016
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| Coupon: | 14.3% annualized for each quarter that stock closes at or above coupon barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above trigger level, par; otherwise, full exposure to losses
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| Call: | At par if stock closes at or above initial level on any quarterly observation date after one year
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| Initial level: | $89.05
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| Barrier level: | $62.34, 70% of initial level
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| Pricing date: | Sept. 19
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| Settlement date: | Sept. 24
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90273L740
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