By Wendy Van Sickle
Columbus, Ohio, June 22 – UBS AG, London Branch priced $2 million phoenix autocallable notes due June 20, 2024 linked to Shopify Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the interest barrier level level, 60% of the initial level, on any quarterly observation date, the notes will pay a contingent coupon at an annual rate of 45.56%.
The notes will be called at par plus the coupon if the shares close at or above the initial share price on any observation date other than the final date.
The payout at maturity will be par plus the final coupon if the stock finishes above at or above the 50% trigger level. Otherwise, investors will be fully exposed to the decline of the stock from its initial share price, payable in shares or cash at the option of the issuer.
UBS Investment Bank and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Shopify Inc.
|
| Amount: | $2 million
|
| Maturity: | June 20, 2024
|
| Coupon: | 45.56% per year, if stock closes at or above trigger level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above trigger level, par plus final coupon; otherwise, lose 1% for every 1% decline in share price from initial price
|
| Call: | At par plus coupon if stock closes at or above initial level on any quarterly observation date, payable in shares or cash at option of the issuer
|
| Initial price: | $303.54
|
| Interest barrier: | $182.12; 60% of initial price
|
| Trigger level: | $151.77; 50% of initial price
|
| Pricing date: | June 15
|
| Settlement date: | June 21
|
| Placement agents: | UBS Investment Bank and J.P. Morgan Securities LLC
|
| Fees: | 0.7%
|
| Cusip: | 90279FHZ7
|
|
|
© 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.
