By Toni Weeks
San Luis Obispo, Calif., July 8 – UBS AG, London Branch priced $1.42 million of 0% phoenix autocallable notes due July 22, 2015 linked to the common stock of Weatherford International plc, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 13.15% per year if Weatherford shares close at or above the trigger price, 80% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.
If the stock closes at or above the initial price on any quarterly observation date other than the final review date, the notes will be called at par plus the contingent coupon.
If the notes are not called and the 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 losses from the initial share price.
The final share price will be the average of the share prices on the five trading days ending July 17, 2015.
UBS Investment Bank is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Weatherford International plc (Symbol: WFT)
|
| Amount: | $1,418,000
|
| Maturity: | July 22, 2015
|
| Coupon: | 13.15% per year, payable quarterly if stock closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Weatherford shares finish at or above trigger price; otherwise, full exposure to losses
|
| Call: | At par plus contingent coupon if Weatherford shares close at or above initial price on any quarterly observation date other than final date
|
| Initial share price: | $22.74
|
| Barrier/trigger price: | $18.19, 80% of initial share price
|
| Pricing date: | July 3
|
| Settlement date: | July 9
|
| Underwriter: | UBS Investment Bank
|
| Agents: | J.P Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 90270KCS6
|
© 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.
