By Toni Weeks
San Luis Obispo, Calif., March 17 – UBS AG, London Branch priced $3.04 million of airbag phoenix autocallable optimization securities due Sept. 19, 2016 linked to salesforce.com, inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon of 10.1% each month if the stock closes at or above the coupon barrier price, 75% of the initial share price, on the observation date for that month.
The notes will be called at par if salesforce.com 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 final share price is less than the conversion price, in which case the payout will be a number of salesforce.com shares equal to $1,000 divided by the conversion price. The conversion price is 82% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Airbag phoenix autocallable optimization securities
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| Underlying stock: | salesforce.com, inc. (Symbol: CRM)
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| Amount: | $3,035,000
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| Maturity: | Sept. 19, 2016
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| Coupon: | 10.1%, payable monthly if stock closes at or above coupon barrier on observation date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case 18.8786 salesforce.com shares per $1,000 principal amount
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| Call: | Automatically at par if salesforce.com shares close at or above initial share price on any quarterly observation date beginning June 15
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| Initial share price: | $64.60
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| Coupon barrier: | $48.45, 75% of initial price
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| Conversion price: | $52.97, 82% of the initial price
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| Pricing date: | March 13
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| Settlement date: | March 18
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90274P518
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