New York, July 20 – UBS AG, London Branch priced $2.46 million of 7.4% airbag autocallable yield notes due July 23, 2018 linked to Southwest Airlines Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if Southwest shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, 90% of the initial share price, in which case the payout will be a number of Southwest shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Airbag autocallable yield notes
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| Underlying stock: | Southwest Airlines Co. (Symbol: LUV)
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| Amount: | $2,456,000
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| Maturity: | July 23, 2018
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| Coupon: | 7.4%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case 17.9404 Southwest shares
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| Call: | At par if Southwest shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $61.93
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| Conversion price: | $55.74, 90% of initial share price
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| Pricing date: | July 14
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| Settlement date: | July 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: | 90280V749
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