By Jennifer Chiou
New York, April 15 - UBS AG, London Branch priced $5.4 million of phoenix autocallable notes due April 29, 2015 linked to the common stock of Splunk Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 17.26% per year if Splunk shares close at or above the barrier price on the observation date for that quarter. Otherwise, no interest will be paid that quarter. The barrier price will be 65% of the initial share price.
The notes will be called at par plus the contingent coupon if Splunk shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and Splunk shares finish at or above the barrier 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.
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: | Splunk Inc. (Symbol: SPLK)
|
| Amount: | $5,404,000
|
| Maturity: | April 29, 2015
|
| Coupon: | 17.26% per year, payable each quarter if Splunk shares close at or above barrier price on observation date for that quarter; otherwise, no interest will be paid that quarter
|
| Price: | Par
|
| Payout at maturity: | If Splunk shares finish at or above trigger price, par plus contingent coupon; otherwise, full exposure to decline in share price
|
| Call: | At par plus contingent coupon if Splunk shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $57.68
|
| Barrier/trigger price: | $37.49, 65% of initial price
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| Pricing date: | April 11
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| Settlement date: | April 16
|
| Underwriter: | UBS Investment Bank with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
|
| Fees: | 1%
|
| Cusip: | 90270KBM0
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