By Angela McDaniels
Tacoma, Wash., July 23 – UBS AG, London Branch priced $709,000 of 0% phoenix autocallable notes due Aug. 5, 2015 linked to the common stock of DISH Network Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 11.8% per year if DISH Network shares close at or above the trigger price, 75% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial share price on any of the first three quarterly observation dates.
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 lose 1% for every 1% that the final share price is less than the initial 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: | DISH Network Corp. (Symbol: DISH)
|
| Amount: | $709,000
|
| Maturity: | Aug. 5, 2015
|
| Coupon: | 11.8%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if DISH Network shares finish at or above trigger price; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | Automatically at par plus contingent coupon if DISH Network shares close at or above initial price on any of first three quarterly observation dates
|
| Initial share price: | $64.85
|
| Final share price: Average of stock’s closing share prices on the five trading days ending July 31, 2015
|
| Trigger price: | $48.64, 75% of initial price
|
| Pricing date: | July 18
|
| Settlement date: | July 23
|
| Underwriter: | UBS Investment Bank
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 90270KCV9
|
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