UBS plans 6%-7.6% airbag autocallable yield notes on Range Resources

By Jennifer Chiou

New York, March 4 – UBS AG, London Branch plans to price airbag autocallable yield optimization notes due March 11, 2016 linked to the common stock of Range Resources Corp., according to an FWP with the Securities and Exchange Commission.

The interest rate is expected to be 6% to 7.6% and will be set at pricing. Interest will be payable monthly.

The notes will be called automatically at par if Range Resources 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 Range Resources shares equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial share price.

The notes (Cusip: 90274P450) will price on March 6 and settle on March 11.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

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