By Susanna Moon
Chicago, April 2 - UBS AG, London Branch priced $6.26 million of contingent income autocallable securities due March 31, 2017 linked to Yahoo! Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.8% if Yahoo stock closes at or above the trigger level, 75% of the initial share price, on any quarterly determination date.
The notes will be redeemed at par of $10 plus the contingent coupon if the stock closes at or above the initial share price on any of the first 11 quarterly determination dates.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the contingent coupon.
Otherwise, the payout will be a number of Yahoo shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Yahoo! Inc. (Symbol: YHOO)
|
| Amount: | $6,263,840
|
| Maturity: | March 31, 2017
|
| Coupon: | 13.8% annualized for each quarter that Yahoo stock closes at or above trigger level on any quarterly determination date
|
| Price: | Par of $10
|
| Payout at maturity: | If stock finishes at or above trigger level, par plus contingent coupon; otherwise, number of Yahoo shares equal to $10 divided by initial share price
|
| Call: | At par plus contingent coupon if stock closes at or above initial share price on any of first 11 quarterly determination dates
|
| Initial price: | $35.90
|
| Trigger level: | $26.93, 75% of initial price
|
| Pricing date: | March 28
|
| Settlement date: | April 2
|
| Agent: | UBS Securities LLC with Morgan Stanley Wealth Management as distributor
|
| Fees: | 2.25%
|
| Cusip: | 90272V475
|
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