By Susanna Moon
Chicago, Aug. 20 – UBS AG, London Branch priced $825,000 of 8.8% airbag autocallable yield notes due Aug. 16, 2019 linked to Pioneer Natural Resources Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the 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 the shares equal to $1,000 divided by the conversion price. The conversion price will be 88% 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 notes
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| Underlying stock: | Pioneer Natural Resources Co. (Symbol: PXD)
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| Amount: | $825,000
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| Maturity: | Aug. 16, 2019
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| Coupon: | 8.8%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case 6.105 Pioneer shares
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| Call: | At par if the shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $186.14
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| Conversion price: | $163.80, 88% of initial share price
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 15
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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: | 90281A785
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