New York, June 23 – UBS AG, London Branch priced $225,000 of trigger phoenix autocallable optimization securities due June 30, 2016 linked to the common stock of Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Micron Technology stock closes at or above the trigger price – 75% of the initial share price – on a bimonthly observation date, the issuer will pay a contingent coupon for that two months at the rate of 10.9%. Otherwise, no coupon will be paid that two months.
If the shares close at or above the initial price on a bimonthly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Micron Technology 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: | Micron Technology, Inc. (Nasdaq: MU)
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| Amount: | $225,000
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| Maturity: | June 30, 2016
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| Coupon: | 10.9%, payable bimonthly if stock closes at or above trigger price on observation date for that two months
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Micron Technology shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if Micron Technology shares close at or above initial price on a bimonthly observation date
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| Initial share price: | $24.49
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| Trigger price: | $18.37, 75% of initial price
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| Pricing date: | June 23
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| Settlement date: | June 26
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.37%
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| Cusip: | 90274X172
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