By Susanna Moon
Chicago, July 15 – UBS AG, London Branch priced $3.32 million of trigger phoenix autocallable optimization securities due July 17, 2019 linked to Kinder Morgan Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if Kinder Morgan stock closes at or above the 68.7% trigger level on an observation date for that month.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any monthly observation date after one year.
The payout at maturity will be par plus the contingent coupon unless Kinder Morgan shares finish below the 68.7% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Kinder Morgan Inc. (Symbol: KMI)
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| Amount: | $3,316,060
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| Maturity: | July 17, 2019
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| Coupon: | 7%, payable monthly if stock closes at or above trigger price on observation date for that month
|
| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Kinder Morgan shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if Kinder Morgan shares close at or above initial price on monthly observation date after one year
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| Initial share price: | $35.63
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| Trigger price: | $24.48, 68.7% of initial price
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| Pricing date: | July 11
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| Settlement date: | July 16
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90273E449
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