Published on 4/10/2017 in the Prospect News Structured Products Daily.
New Issue: UBS prices $110,000 airbag performance notes tied to Cisco Systems
By Marisa Wong
Morgantown, W.Va., April 10 – UBS AG, London Branch priced $110,000 of 0% airbag performance notes due April 6, 2021 linked to the common stock of Cisco Systems, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock’s return is positive, the payout at maturity will be par plus 154.563999% of the gain.
If the stock’s return is zero or negative but the final share price is greater than or equal to the conversion level, 90% of the initial share price, the payout will be par.
If the final share price is less than the conversion level, investors will receive a number of Cisco shares equal to $1,000 divided by the conversion level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Airbag performance securities
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Underlying stock: | Cisco Systems, Inc. (Symbol: CSCO)
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Amount: | $110,000
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Maturity: | April 6, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If stock’s return is positive, par plus 154.563999% of gain; if stock’s return is zero or negative but greater than or equal to negative 10%, par; if final share price is less than conversion level, 32.9272 Cisco shares
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Initial price: | $33.74
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Conversion level: | $30.37, 90% of initial price
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Pricing date: | March 30
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Settlement date: | April 4
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 3%
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Cusip: | 90277C399
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