UBS to price 6.2% airbag autocallable yield notes linked to Hertz

By Angela McDaniels

Tacoma, Wash., July 25 – UBS AG, London Branch plans to price airbag autocallable yield optimization notes due July 31, 2015 linked to the common stock of Hertz Global Holdings, Inc., according to an FWP filing with the Securities and Exchange Commission.

The interest rate is expected to be at least 6.2% and will be set at pricing. Interest will be payable monthly.

The notes will be called automatically at par if Hertz shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Hertz shares equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial share price.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

The notes are expected to price July 28 and settle July 31.

The Cusip number is 90273E720.

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