By Angela McDaniels
Tacoma, Wash., Nov. 7 – UBS AG, London Branch priced $551,000 of 0% phoenix autocallable notes due Nov. 8, 2019 linked to the common stock of CBS Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 5% per year if CBS shares close at or above the trigger price, 75% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of CBS shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
UBS Securities LLC is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | CBS Corp. (Symbol: CBS)
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| Amount: | $551,000
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| Maturity: | Nov. 8, 2019
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| Coupon: | 5%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if CBS shares finish at or above trigger price; otherwise, 19.0476 CBS shares or amount in cash equal to value of those shares
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| Call: | Automatically at par plus contingent coupon if CBS shares close at or above initial price on any quarterly observation date
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| Initial share price: | $52.50
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| Trigger price: | $39.38, 75% of initial share price
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| Pricing date: | Nov. 5
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| Settlement date: | Nov. 10
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| Underwriter: | UBS Securities LLC
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 90270KDX4
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