Published on 4/25/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $100,000 contingent absolute return autocallables linked to Newfield
By Angela McDaniels
Tacoma, Wash., April 25 - UBS AG, London Branch priced $100,000 of 0% contingent absolute return autocallable optimization securities due May 2, 2014 linked to the common stock of Newfield Exploration Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 14.59% if Newfield stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the trigger price, 75% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock decline from the initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Contingent absolute return autocallable optimization securities
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Underlying stock: | Newfield Exploration Co. (NYSE: NFX
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Amount: | $100,000
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Maturity: | May 2, 2014
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to stock decline
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Call: | At par plus 14.59% per year if Newfield stock closes at or above initial share price on July 25, 2013, Oct. 25, 2013, Jan. 27, 2014 or April 25, 2014
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Initial share price: | $21.91
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Trigger price: | $16.43, 75% of initial share price
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Pricing date: | April 25
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Settlement date: | April 30
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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: | 90269J709
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