By Toni Weeks
San Luis Obispo, Calif., Sept. 24 - UBS AG, London Branch priced $3.22 million of contingent income autocallable securities due Sept. 25, 2014 linked to LyondellBasell Industries NV shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.45% if LyondellBasell stock closes at or above the 75% downside threshold level on the determination date for that quarter.
If the shares close at or above the initial stock price on any of the first three quarterly determination dates, the notes will be called at par plus the contingent coupon.
The payout at maturity will be par unless LyondellBasell stock finishes below the downside threshold price, in which case investors will receive a number of shares of LyondellBasell stock equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.
UBS Securities LLC is the agent with Morgan Stanley Smith Barney LLC as distributor.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | LyondellBasell Industries NV (Symbol: LYB)
|
| Amount: | $3,218,400
|
| Maturity: | Sept. 25, 2014
|
| Coupon: | 8.45% per year if closing price is at least 75% of initial price on quarterly determination date; otherwise, none
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is at least 75% of initial price, par plus contingent quarterly payment; otherwise, a number of shares of LyondellBasell stock equal to $10 divided by initial share price or, at issuer's option, equivalent cash value
|
| Initial price: | $73.03
|
| Downside threshold level: | $54.77, 75% of initial share price
|
| Call: | Par plus contingent payment if closing share price greater than or equal to initial share price on any of first three quarterly determination dates
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 25
|
| Agent: | UBS Securities LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 1.5%, used for selling concessions
|
| Cusip: | 90271M385
|
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