By William Gullotti
Buffalo, N.Y., Oct. 18 – UBS AG, London Branch priced $2.93 million phoenix autocallable notes with memory coupon due Oct. 19, 2023 linked to Broadcom Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the trigger level, 72% of the initial level, on any quarterly observation date, the notes will pay a contingent coupon at an annual rate of 9%. Previously unpaid contingent coupons, if any, will be paid whenever a contingent coupon is paid.
The notes will be called at par plus the coupon and any unpaid coupons 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 and any previously unpaid coupons if the stock finishes above at or above the trigger level. Otherwise, investors will be fully exposed to the decline of the stock from its initial share price.
UBS Investment Bank and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Phoenix autocallable notes with memory coupon
|
| Underlying stock: | Broadcom Inc.
|
| Amount: | $2,925,000
|
| Maturity: | Oct. 19, 2023
|
| Coupon: | 9% per year, if stock closes at or above trigger level on quarterly observation date; coupon payment events will include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above trigger level, par plus final coupon and any previously unpaid coupons; otherwise, lose 1% for every 1% decline in share price from initial price
|
| Call: | At par plus coupon and any unpaid coupons if stock closes at or above initial level on any quarterly observation date
|
| Initial price: | $497.60
|
| Trigger level: | $358.27; 72% of initial price
|
| Pricing date: | Oct. 14
|
| Settlement date: | Oct. 19
|
| Placement agents: | UBS Investment Bank and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
|
|
| Cusip: | 90279DMA1
|
|
|
© 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.
