Published on 5/31/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.81 million 8% airbag autocallables linked to lululemon
By Angela McDaniels
Tacoma, Wash., May 31 - UBS AG, London Branch priced $3.81 million of 8% airbag autocallable yield optimization notes due May 30, 2014 linked to the common stock of lululemon athletica inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par if lululemon shares close at or above the initial share price on Aug. 28, 2013, Nov. 26, 2013, Feb. 26, 2014 or May 27, 2014.
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 lululemon shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | lululemon athletica inc. (Symbol: LULU)
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Amount: | $3,812,000
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Maturity: | May 30, 2014
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Coupon: | 8%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, number of lululemon shares equal to $1,000 divided by conversion price; otherwise, par
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Call: | Automatically at par if lululemon shares close at or above initial share price on Aug. 28, 2013, Nov. 26, 2013, Feb. 26, 2014 or May 27, 2014
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Initial share price: | $78.79
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Conversion price: | $63.03, 80% of initial share price
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Pricing date: | May 29
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Settlement date: | May 31
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90271C643
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