UBS to price phoenix autocallable notes linked to Weatherford

By Marisa Wong

Madison, Wis., July 2 – UBS AG, London Branch plans to price 0% phoenix autocallable notes due July 22, 2015 linked to the common stock of Weatherford International Ltd., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 13.15% per year if Weatherford shares close at or above the trigger price, 80% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.

If the stock closes at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.

If the notes are not called and the shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of Weatherford shares equal to $1,000 divided by the initial share price.

UBS Investment Bank is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

The notes will price on July 3 and settle on July 9.

The Cusip number is 90270KCS6.

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