UBS plans phoenix autocallable memory interest notes on Noble Energy

By Wendy Van Sickle

Columbus, Ohio, Dec. 7 – UBS AG, London Branch plans to price phoenix autocallable notes with memory interest due Dec. 28, 2017 linked to the common stock of Noble Energy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, if the stock closes at or above its interest barrier, 65% of its initial level, on the observation date for that quarter, the notes will pay a contingent coupon at the rate of 11.75% per year plus any previously unpaid contingent interest payments.

The notes will be automatically called at par plus the contingent interest payment and any previously unpaid contingent interest payments if the stock closes at or above its initial level on any quarterly observation date.

If the notes are not called and the stock finishes at or above its trigger level, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the stock declines.

J.P. Morgan Securities LLC and UBS Investment Bank are the agents.

The notes will price Dec. 9.

The Cusip number is 90270KHQ5.

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