By Angela McDaniels
Tacoma, Wash., Oct. 25 – UBS AG, London Branch priced $3.17 million of trigger autocallable contingent yield notes due Oct. 28, 2020 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.7% per year if Bank of America shares close at or above the downside threshold level, 80% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par if Bank of America 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, the payout will be a number of Bank of America shares equal to $1,000 divided by the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying stock: | Bank of America Corp. (Symbol: BAC)
|
Amount: | $3,165,000
|
Maturity: | Oct. 28, 2020
|
Coupon: | Each quarter, notes pay contingent coupon at rate of 10.7% per year if Bank of America shares close at or above downside threshold level on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | If notes are not called and final share price is greater than or equal to downside threshold level, par; otherwise, 31.8269 Bank of America shares
|
Call: | Automatically at par if Bank of America shares close at or above initial share price on any quarterly observation date
|
Initial share price: | $31.42
|
Downside threshold: | $25.14, 80% of initial share price
|
Pricing date: | Oct. 23
|
Settlement date: | Oct. 28
|
Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | 1.5%
|
Cusip: | 90281E662
|
© 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.