By Jennifer Chiou
New York, Feb. 18 - UBS AG, London Branch priced $350,000 of trigger phoenix autocallable optimization securities due Aug. 17, 2015 linked to the lesser performing of the common stock of Citigroup Inc. and iShares MSCI Mexico Capped ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the share prices for both assets close at or above the trigger prices - 73% of the initial share prices - on a monthly observation date, the issuer will pay an annualized contingent coupon for that month at the rate of 9%. Otherwise, no coupon will be paid that month.
If the share prices for both assets close at or above the initial prices on a monthly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and the both assets finish at or above the trigger prices, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price of the lesser-performing asset.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying assets: | Citigroup Inc. (Symbol: C), iShares MSCI Mexico Capped ETF
|
| Amount: | $350,000
|
| Maturity: | Aug. 17, 2015
|
| Coupon: | 9%, payable monthly if both assets close at or above trigger prices on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if both assets finish at or above trigger prices; otherwise, par plus return of lesser-performing asset
|
| Call: | Automatically at par plus contingent coupon if both assets close at or above initial prices on a monthly observation date
|
| Initial share prices: | $49.96 for Citigroup; $62.98 for ETF
|
| Trigger price: | $36.47 for Citigroup, $45.98 for ETF; 73% of initial prices
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 18
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1%
|
| Cusip: | 90271T794
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
