By Angela McDaniels
Tacoma, Wash., July 18 – UBS AG, London Branch priced $500,000 of 0% phoenix autocallable notes due Aug. 4, 2015 linked to the class C common stock of Google Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.3% per year if Google shares close at or above the trigger price, 85% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.
If the stock closes at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.
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 receive a number of Google shares equal to $1,000 divided by 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: | Google Inc. (Symbol: GOOG)
|
| Amount: | $500,000
|
| Maturity: | Aug. 4, 2015
|
| Coupon: | 7.3%, 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 Google shares finish at or above trigger price; otherwise, 1.7163 Google shares
|
| Call: | Automatically at par plus contingent coupon if Google shares close at or above initial price on any quarterly observation date
|
| Initial share price: | $582.66
|
| Trigger price: | $495.26, 85% of initial price
|
| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Underwriter: | UBS Investment Bank
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 90270KDA4
|
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