By Wendy Van Sickle
Columbus, Ohio, April 16 – UBS AG, London Branch priced $2.81 million of trigger autocallable contingent yield notes due April 1, 2024 linked to the common stock of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7% per year if Wynn Resorts shares close at or above the downside threshold level, 50% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par if Wynn Resorts shares close at or above the initial share price on any quarterly observation date.
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. Otherwise, investors will be fully exposed to the decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying stock: | Wynn Resorts, Ltd.
|
Amount: | $2,215,000
|
Maturity: | April 1, 2024
|
Contingent coupon: | 7%, payable quarterly if stock closes at or above downside threshold on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless stock finishes below downside threshold level, in which case full exposure to loss
|
Call: | At par if stock closes at or above initial level on any quarterly observation date
|
Initial price: | $127.43
|
Downside threshold: | $63.72, 50% of initial price
|
Pricing date: | March 26
|
Settlement date: | March 31
|
Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | 2%
|
Cusip: | 90276BVJ9
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.