By Wendy Van Sickle
Columbus, Ohio, June 1 – UBS AG, London Branch priced $3 million of trigger autocallable contingent yield notes due May 15, 2023 linked to the common shares of Splunk Inc. according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.95% per year if the shares close at or above the downside threshold level, 50% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par if shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the loss.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying stock: | Splunk Inc.
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Amount: | $3 million
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Maturity: | May 15, 2023
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Contingent coupon: | 7.95%, payable quarterly if stock closes at or above downside threshold on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless stock finishes below downside threshold level, in which case full exposure to loss
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Call: | At par if stock closes at or above initial level on any quarterly observation date
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Initial price: | $113.74
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Downside threshold: | $56.87, 50% of initial price
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Pricing date: | May 10
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Settlement date: | May 13
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.25%
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Cusip: | 90278Y523
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