New Issue: UBS prices $2.7 million 11% autocallables linked to Zillow

By Angela McDaniels

Tacoma, Wash., Sept. 25 – UBS AG, London Branch priced $2.7 million of 11% fixed-coupon autocallable securities due Sept. 28, 2016 linked to the common stock of Zillow, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if Zillow stock closes at or above the initial share price on any of the first 23 monthly determination dates.

If the notes are not called and the final share price is greater than or equal to the downside threshold level, 70% of the initial share price, the payout at maturity will be par. Otherwise, the payout will be a number of Zillow shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

UBS Securities LLC is the agent.

Issuer:	UBS AG, London Branch
Issue:	Fixed-coupon autocallable securities
Underlying stock:	Zillow, Inc. (Z)
Amount:	$2.7 million
Maturity:	Sept. 28, 2016
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	If final share price is greater than or equal to downside threshold level, par; otherwise, number of Zillow shares equal to $1,000 divided by initial share price or, at issuer’s option, amount in cash equal to value of those shares
Call:	At par if Zillow stock closes at or above initial share price on any of first 23 monthly determination dates
Initial share price:	$125.26
Downside threshold:	$87.68, 70% of initial share price
Pricing date:	Sept. 23
Settlement date:	Sept. 26
Agent:	UBS Securities LLC
Fees:	2.1%
Cusip:	90270KDK2

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