By Toni Weeks
San Luis Obispo, Calif., Oct. 23 - UBS AG, London Branch priced $4.66 million of trigger phoenix autocallable optimization securities due April 24, 2015 linked to Williams Cos., Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Williams stock closes at or above the trigger price - 75% of the initial share price - on a quarterly observation date, the issuer will pay a contingent annualized coupon of 10.4% for that quarter.
If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and Williams shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to the decline in the share price from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Williams Cos., Inc. (Symbol: WMB)
|
| Amount: | $4,656,800
|
| Maturity: | April 24, 2015
|
| Coupon: | 10.4%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if Williams shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | At par plus contingent coupon if Williams shares close at or above initial price on any quarterly observation date
|
| Initial share price: | $36.24
|
| Trigger price: | $27.18, 75% of initial share price
|
| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 23
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90271M807
|
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