New York, June 25 – UBS AG, London Branch priced $135,870 of trigger phoenix autocallable optimization securities due July 3, 2017 linked to the common stock of Twitter, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Twitter stock closes at or above the trigger price – 70% of the initial share price – on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 13.89%. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Twitter shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger phoenix autocallable optimization securities
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Underlying stock: | Twitter, Inc. (NYSE: TWTR)
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Amount: | $135,870
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Maturity: | July 3, 2017
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Coupon: | 13.89%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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Price: | Par of $10.00
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Payout at maturity: | Par plus contingent coupon if Twitter shares finish at or above trigger price; otherwise, par plus stock return
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Call: | Automatically at par plus contingent coupon if Twitter shares close at or above initial price on a quarterly observation date
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Initial share price: | $35.17
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Trigger price: | $24.62, 70% of initial price
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Pricing date: | June 25
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Settlement date: | June 30
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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: | 90274X271
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