Published on 5/30/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.44 million 7.5% airbag autocallable yield notes linked to Western Refining
By Jennifer Chiou
New York, May 30 - UBS AG, London Branch priced $4,438,000 of 7.5% airbag autocallable yield optimization notes due May 29, 2015 linked to Western Refining, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par plus accrued interest if Western Refining stock closes 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, in which case the payout will be a number of Western Refining shares equal to $1,000 divided by the conversion price. The conversion price is 82% of the initial share 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 optimization notes
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Underlying stock: | Western Refining, Inc. (Symbol: WNR)
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Amount: | $4,438,000
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Maturity: | May 29, 2015
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Coupon: | 7.5%, payable monthly
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Price: | Par
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Payout at maturity: | If final price is less than conversion price, Western Refining shares equal to $1,000 divided by the conversion price; otherwise, par
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Call: | At par if Western Refining shares close at or above initial share price on any quarterly observation date
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Initial price: | $41.30
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Conversion price: | $33.87, 82% of initial price
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Pricing date: | May 28
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Settlement date: | May 30
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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: | 90272X588
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