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UBS plans five-year trigger phoenix autocallables linked to Apollo
By Susanna Moon
Chicago, May 21 - UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due May 31, 2019 linked to Apollo Global Management, LLC 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 10.5% if Apo stock closes at or above the trigger level - 50% to 55% of the initial share price - on the 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.
If the notes are not called and Apollo shares finish at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
The notes will price on May 28 and settle on May 30.
The Cusip number is 90272X513.
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