By Jennifer Chiou
New York, July 30 - UBS AG, London Branch priced $4 million of 0% autocallable optimization securities with contingent protection due Aug. 4, 2011 linked to the American depositary shares of BP plc, according to a 424B2 filing with the Securities and Exchange Commission.
If BP ADSs close at or above the initial price on any of 12 monthly observation dates, the notes will be called automatically and investors will receive par of $10 plus an annualized call premium of 33%.
The payout at maturity will be par if the ADSs finish at or above 60% of its initial price. Otherwise, investors will be exposed to the decline.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Autocallable optimization securities with contingent protection
|
| Underlying ADS: | BP plc (Symbol: BP)
|
| Amount: | $4 million
|
| Maturity: | Aug. 4, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final price of the ADSs is greater than or equal to trigger price, par; otherwise, par plus return
|
| Call: | At par plus annualized call premium of 33% if BP ADSs close at or above initial price on any of 12 monthly observation dates
|
| Initial price: | $38.47
|
| Trigger price: | $23.08, 60% of initial share price
|
| Pricing date: | July 29
|
| Settlement date: | Aug. 3
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.25%
|
| Cusip: | 90267C615
|
© 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.
