UBS plans five-year trigger phoenix autocallables linked to Tesoro

By Susanna Moon

Chicago, May 21 - UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due May 31, 2019 linked to Tesoro Corp. 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 8% if Tesoro stock closes at or above the trigger level - 63% to 68% 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 Tesoro 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 90272X521.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.