Published on 6/24/2016 in the Prospect News Structured Products Daily.
New Issue: UBS prices $100,000 airbag yield optimization notes tied to Nordstrom
New York, June 24 – UBS AG, London Branch priced $100,000 of 7.27% airbag yield optimization notes due Dec. 29, 2017 linked to the common stock of Nordstrom, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
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 Nordstrom shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank is the agent.
Issuer: | UBS AG, London Branch
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Issue: | Airbag yield optimization notes
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Underlying stock: | Nordstrom, Inc. (NYSE: JWN)
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Amount: | $100,000
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Maturity: | Dec. 29, 2017
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Coupon: | 7.27%, 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 Nordstrom shares equal to $1,000 divided by conversion price; otherwise, par
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Initial share price: | $37.13
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Conversion price: | $31.56, 85% of initial price
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Pricing date: | June 24
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Settlement date: | June 29
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.37%
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Cusip: | 90276M505
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