By Susanna Moon
Chicago, Jan. 28 – UBS AG, London Branch priced $792,000 of 6% airbag autocallable yield optimization notes due Jan. 28, 2016 linked to Charles Schwab Corp. shares, according to a 424B2 with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if Schwab shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Schwab shares equal to $1,000 divided by the conversion price. The conversion price is 88% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | Charles Schwab Corp. (Symbol: SCHW)
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Amount: | $792,000
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Maturity: | Jan. 28, 2016
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Coupon: | 6%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, 41.7885 Schwab shares; otherwise, par
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Call: | At par if Schwab shares close at or above initial share price on any quarterly observation date
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Initial share price: | $27.19
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Conversion price: | $23.93, 88% of initial share price
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Pricing date: | Jan. 23
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Settlement date: | Jan. 28
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90274F775
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