Published on 7/12/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $105,000 contingent absolute return autocallables linked to Cliffs Natural Resources
By Angela McDaniels
Tacoma, Wash., July 12 - UBS AG, London Branch priced $105,000 of 0% contingent absolute return autocallable optimization securities due July 21, 2014 linked to the common stock of Cliffs Natural Resources Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a call premium if Cliffs Natural Resources stock closes at or above the initial share price on any quarterly observation date. The call price is $10.6808 on the first call date, $11.3615 on the second, $12.0423 on the third and $12.7230 on the fourth.
If the notes are not called and the final share price is greater than or equal to the trigger price, 60% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent absolute return autocallable optimization securities
|
| Underlying stock: | Cliffs Natural Resources Inc. (NYSE: CLF)
|
| Amount: | $105,000
|
| Maturity: | July 21, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to stock decline
|
| Call: | At par plus premium if Cliffs Natural Resources stock closes at or above initial share price on any quarterly observation date; call price is $10.6808 on first call date, $11.3615 on second, $12.0423 on third and $12.7230 on fourth
|
| Initial share price: | $16.86
|
| Trigger price: | $10.12, 60% of initial share price
|
| Pricing date: | July 12
|
| Settlement date: | July 17
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90271P651
|
© 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.
