By Devika Patel
Knoxville, Tenn., Jan. 21 – UBS AG priced $591,000 of 10% airbag autocallable yield optimization notes due Jan. 23, 2017 linked to lululemon athletica inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if lululemon shares close at or above the initial share price on any quarterly observation date.
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 75% of the initial share price.
UBS Financial Services Inc. and 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: | $591,000
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| Maturity: | Jan. 23, 2017
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| Coupon: | 10%, payable monthly
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| Price: | Par
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| Payout at maturity: | If final share price is less than conversion price, 23.9349 lululemon shares; otherwise, par
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| Call: | At par if lululemon shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $55.71
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| Conversion price: | $41.78, 75% of initial share price
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
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| Agent: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90275L425
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