Published on 3/18/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $350,000 airbag yield optimization notes linked to Apple
New York, March 18 - UBS AG, London Branch priced $350,000 of 5.22% airbag yield optimization notes due March 23, 2015 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Apple shares equal to $1,000 divided by the conversion price. The conversion price is 95% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank is the agent.
Issuer: | UBS AG, London Branch
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Issue: | Airbag yield optimization notes
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Underlying stock: | Apple Inc. (Nasdaq: AAPL)
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Amount: | $350,000
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Maturity: | March 23, 2015
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Coupon: | 5.22%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, number of Apple shares equal to $1,000 divided by conversion price; otherwise, par
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Initial share price: | $531.40
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Conversion price: | $504.83, 95% of initial price
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Pricing date: | March 18
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Settlement date: | March 21
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90272G254
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