By Wendy Van Sickle
Columbus, Ohio, Oct. 10 – UBS AG, London Branch priced $27.79 million of trigger autocallable contingent yield notes with memory coupon due Oct. 2, 2026 linked to the common stock of Blackstone Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 10.35% per year if the shares close at or above the coupon barrier, 55% of the initial share price, on the relevant observation date, in which case investors will also receive any previously unpaid coupons.
The notes will be automatically called at par plus the coupon if the shares close at or above the initial level on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the coupon barrier, the payout at maturity will be par plus all unpaid coupons.
If the stock finishes below its coupon barrier but at or above the downside threshold level, 55% of the initial share price, the payout will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes with memory coupon
|
| Underlying stock: | Blackstone Inc.
|
| Amount: | $27,788,000
|
| Maturity: | Oct. 2, 2026
|
| Contingent coupon: | 10.35%, payable quarterly if stock closes at or above coupon barrier level on related quarterly observation date; coupon payment events will include previously unpaid coupons, if any
|
| Price: | Par
|
| Payout at maturity: | Par plus all unpaid coupons if stock finishes at or above coupon barrier; if stock finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline from initial price
|
| Call: | Automatically at par plus coupon if stock closes at or above initial level on any quarterly observation date
|
| Initial price: | $107.14
|
| Coupon barrier: | $58.93; 55% of initial price
|
| Downside threshold: | $58.93; 55% of initial price
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 4
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.25%
|
| Cusip: | 90279WFJ8
|
|
|
© 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.
