By Marisa Wong
Madison, Wis., March 5 - UBS AG, London Branch priced $1 million of 0% phoenix autocallable notes due March 20, 2014 linked to the common stock of Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Las Vegas Sands shares close at or above the trigger price - 65% of the initial share price - on any quarterly observation date, the issuer will pay a contingent coupon of 11.5% per year. 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. Investors will be exposed to any losses.
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: | Las Vegas Sands Corp. (NYSE: LVS)
|
| Amount: | $1 million
|
| Maturity: | March 20, 2014
|
| Coupon: | 11.5%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if Las Vegas Sands shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Las Vegas Sands shares close at or above initial price on a quarterly observation date
|
| Initial share price: | $51.31
|
| Trigger price: | $33.35, 65% of initial price
|
| Pricing date: | March 1
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| Settlement date: | March 6
|
| Underwriter: | UBS Investment Bank with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
|
| Fees: | 1%
|
| Cusip: | 902674MF4
|
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