By Susanna Moon
Chicago, Sept. 10 – UBS AG, London Branch priced $3.35 million of trigger phoenix autocallable optimization securities due Sept. 10, 2018 linked to General Electric Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if General Electric stock closes at or above the 75.75% trigger level on an observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon unless the shares finish below the trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | General Electric Co. (Symbol: GE)
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| Amount: | $3,349,000
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| Maturity: | Sept. 10, 2018
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| Coupon: | 8%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if General Electric shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if General Electric shares close at or above initial price on a quarterly observation date after six months
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| Initial share price: | $24.00
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| Trigger level: | 75.75% of initial price
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| Pricing date: | Sept. 4
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| Settlement date: | Sept. 10
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90275G186
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