Published on 1/14/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.7 million 6.72% airbag autocallable notes linked to Delta
By Susanna Moon
Chicago, Jan. 14 - UBS AG, London Branch priced $3.7 million of 6.72% airbag autocallable yield optimization notes due Jan. 15, 2015 linked to Delta Air Lines, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if Delta 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 Delta shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
|
Issue: | Airbag autocallable yield optimization notes
|
Underlying stock: | Delta Air Lines, Inc. (Symbol: DAL)
|
Amount: | $3,695,000
|
Maturity: | Jan. 15, 2015
|
Coupon: | 6.72%, payable monthly
|
Price: | Par
|
Payout at maturity: | If final share price is less than conversion price, 39.7141 Delta shares; otherwise, par
|
Call: | At par if Delta shares close at or above initial share price on any quarterly date
|
Initial share price: | $31.47
|
Conversion price: | $25.18, 80% of initial share price
|
Pricing date: | Jan. 10
|
Settlement date: | Jan. 15
|
Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | 1.5%
|
Cusip: | 90271T216
|
© 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.