By Wendy Van Sickle
Columbus, Ohio, March 15 – UBS AG, London Branch priced $3.38 million of 9.75% airbag autocallable yield optimization notes due March 17, 2017 linked to the common stock of Celgene Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called automatically at par if Celgene 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 Celgene shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | Celgene Corp. (Symbol: CELG)
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Amount: | $3,384,000
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Maturity: | March 17, 2017
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Coupon: | 9.75%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, 11.5513 Celgene shares; otherwise, par
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Call: | At par if Celgene shares close at or above initial share price on any quarterly observation date
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Initial share price: | $101.85
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Conversion price: | $86.57, 85% of initial share price
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Pricing date: | March 11
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Settlement date: | March 16
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90275R141
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