By Susanna Moon
Chicago, June 24 – UBS AG, London Branch priced $2.29 million of 6.5% airbag autocallable yield optimization notes due June 24, 2016 linked to Axiall Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Axiall 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 Axiall shares equal to $1,000 divided by the conversion price. The conversion price is 82% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | Axiall Corp. (Symbol: AXLL)
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Amount: | $2,291,000
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Maturity: | June 24, 2016
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Coupon: | 6.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless final share price is less than conversion price, in which case 31.6756 Axiall shares
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Call: | At par if shares close at or above initial share price on any quarterly observation date
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Initial share price: | $38.50
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Conversion price: | $31.57, 82% of initial share price
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Pricing date: | June 19
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Settlement date: | June 24
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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: | 90274T866
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