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UBS plans to price trigger phoenix autocallables linked to Apollo
By Marisa Wong
Madison, Wis., June 24 – UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due Dec. 30, 2016 linked to Apollo Global Management, LLC shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annualized rate of 11% to 13.85% if the stock closes at or above the coupon barrier, 75% of the initial share price, on the observation date for that quarter.
The notes will be called at par if Apollo shares close at or above the initial share price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the 75% trigger level, in which case investors will be fully exposed to any losses.
The exact terms will be set at pricing.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
The notes will price on June 26 and settle on June 30.
The Cusip number is 90275C201.
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