By Susanna Moon
Chicago, Sept. 10 – UBS AG, London Branch priced $24.55 million of contingent income autocallable securities due Sept. 8, 2017 linked to Blackstone Group LP shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.10% if the stock closes at or above its 75% coupon barrier level on a determination date for that quarter.
The notes will be redeemed at par plus the contingent coupon if the stock closes at or above its initial level on any of the first 11 determination dates.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon unless the stock finishes below its 75% barrier level, in which case investors will be fully exposed to any losses.
UBS Securities LLC is the agent. Morgan Stanley Smith Barney LLC will handle distribution.
Issuer: | UBS AG, London Branch
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Issue: | Contingent income autocallable securities
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Underlying stock: | Blackstone Group LP (Symbol: BX)
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Amount: | $24,545,910
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Maturity: | Sept. 8, 2017
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Coupon: | 10.10% per year, payable quarterly if stock closes at or above its coupon barrier level on the determination date for that quarter
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Price: | Par of $10
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Payout at maturity: | If stock finishes at or above its barrier level, par plus the final contingent coupon; otherwise, full exposure to losses
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Call: | At par plus the contingent coupon if stock closes at or above its initial level on any of the first 11 determination dates
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Initial level: | $33.08
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Barrier level: | $24.81, 75% of initial level
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Pricing date: | Sept. 5
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Settlement date: | Sept. 10
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Agent: | UBS Securities LLC with Morgan Stanley Smith Barney LLC as dealer
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Fees: | 2.5%
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Cusip: | 90273L476
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