Published on 5/1/2013 in the Prospect News Structured Products Daily.
New Issue: UBS sells $122,000 contingent absolute return autocallables on Genworth
By Marisa Wong
Madison, Wis., May 1 - UBS AG, London Branch priced $122,000 of 0% contingent absolute return autocallable optimization securities due May 8, 2014 linked to the common stock of Genworth Financial, Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 15.85% if Genworth stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the trigger price, 75% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Contingent absolute return autocallable optimization securities
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Underlying stock: | Genworth Financial, Inc. (NYSE: GNW)
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Amount: | $122,000
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Maturity: | May 8, 2014
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to stock decline
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Call: | At par plus 15.85% per year if Genworth stock closes at or above initial share price on Aug. 1, Nov. 1, Feb. 3, 2014 or May 1, 2014
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Initial share price: | $10.27
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Trigger price: | $7.70, 75% of initial share price
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Pricing date: | May 1
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Settlement date: | May 6
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90271G222
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