By Marisa Wong
Madison, Wis., Sept. 18 - UBS AG, London Branch priced $3.18 million of trigger phoenix autocallable optimization securities due Sept. 20, 2017 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the share price finishes at or above the trigger price - 65% of the initial share price - on any monthly observation date, the issuer will pay a contingent coupon of 7.83%. Otherwise, no coupon will be paid for that month.
If the fund closes at or above the initial price on any monthly observation date, the notes will be called at par of $10 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. Investors will be exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying fund: | iShares Russell 2000 index fund
|
| Amount: | $3,178,450
|
| Maturity: | Sept. 20, 2017
|
| Coupon: | 7.83% per year, payable monthly if fund closes at or above trigger price on observation date for that month
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger price; otherwise, par plus fund return
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any monthly observation date
|
| Initial share price: | $86.40
|
| Trigger price: | $56.16, 65% of initial share price
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 19
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.5%
|
| Cusip: | 90269V413
|
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