UBS plans one-year phoenix autocallables with 80% barrier on Apple

By Susanna Moon

Chicago, Oct. 26 – UBS AG, London Branch plans to price phoenix autocallable notes due Nov. 15, 2017 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.35% if the stock closes at or above its coupon barrier, 80% of its initial level, on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any observation date.

The payout at maturity will be par unless the stock finishes below its 80% trigger level, in which case investors will be fully exposed to any losses.

J.P. Morgan Securities LLC and UBS Investment Bank are the agents.

The notes will price on Oct. 28 and settle on Nov. 2.

The Cusip number is 90270KHK8.

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