New York, Oct. 26 – UBS AG, London Branch priced $2,205,000 of trigger phoenix autocallable optimization securities due Oct. 29, 2021 linked to the common stock of Kraft Heinz Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Kraft Heinz stock closes at or above the trigger price – 60% of the initial share price – on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 9%. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Kraft Heinz shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Kraft Heinz Co. (Nasdaq: KHC)
|
| Amount: | $2,205,000
|
| Maturity: | Oct. 29, 2021
|
| Coupon: | 9%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if Kraft Heinz shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Kraft Heinz shares close at or above initial price on a quarterly observation date
|
| Initial share price: | $30.58
|
| Trigger price: | $18.35, 60% of initial price
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 28
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90282C681
|
|
|
|
|
© 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.
