By Susanna Moon
Chicago, April 15 – UBS AG, London Branch priced $3.28 million of 0% contingent absolute return autocallable optimization securities due April 18, 2016 linked to Shell Midstream Partners, LP shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 11.75% per year if the shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and Shell Midstream shares finish at or above the trigger level, 75% 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 any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent absolute return autocallable optimization securities
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| Underlying stock: | Shell Midstream Partners, LP (Symbol: SHLX)
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| Amount: | $3.28 million
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| Maturity: | April 18, 2016
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If stock finishes at or above trigger level, par plus absolute value of stock return; otherwise, full exposure to any losses
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| Call: | At par plus 11.75% per year if the shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $39.00
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| Trigger price: | $29.25, 75% of initial price
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| Pricing date: | April 10
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| Settlement date: | April 15
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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: | 90274P856
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