Chicago, Jan. 16 – UBS AG, London Branch priced $10 million phoenix autocallable buffer notes with memory interest due Jan. 14, 2025 linked to Tesla, Inc. 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 17.3% if the stock closes at or above the interest barrier, 65% of the initial level, on the related monthly observation date. Any previously unpaid contingent interest payments will also be paid.
The notes will be called at par if the shares close at or above the initial share price on any monthly observation date other than the final date.
The payout at maturity will be par plus the final coupon and any previously unpaid coupons unless the stock finishes below the 65% downside threshold, in which case investors will lose 1.5385% for every 1% loss of the stock beyond 35%.
UBS Investment Bank is the underwriter. J.P. Morgan Securities LLC is the agent.
| Issuer: | UBS AG, London Branch
|
| Issue: | Phoenix autocallable buffer notes with memory coupon
|
| Underlying stock: | Tesla, Inc. (Ticker: TSLA)
|
| Amount: | $10 million
|
| Maturity: | Jan. 14, 2025
|
| Coupon: | 17.3% annualized, plus any previously unpaid coupons, payable monthly if stock closes at or above interest barrier on monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon and previously unpaid coupons if stock finishes at or above downside threshold; otherwise, 1.5385% loss for every 1% decline beyond 35%
|
| Call: | At par plus contingent coupon and previously unpaid coupons if stock closes at or above initial level on a monthly observation date
|
| Initial price: | $240.45
|
| Interest barrier: | $156.29, 65% of initial price
|
| Downside threshold: | $156.29, 65% of initial price
|
| Strike date: | Jan. 8
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 12
|
| Underwriter: | UBS Investment Bank
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.1%
|
| Cusip: | 90279WG24
|
|
|
© 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.
