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UBS plans trigger phoenix autocallables linked to International Paper
By Toni Weeks
San Luis Obispo, Calif., Feb. 4 – UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due Feb. 12, 2020 linked to International Paper Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if the stock price on any monthly observation date is equal to or greater than the coupon barrier, 77% to 81% of the initial share price. Interest is payable monthly.
The notes will be called at par if International Paper shares close at or above the initial share price on any monthly observation date after one year.
If the notes are not called, the payout at maturity will be par if the final share price is equal to or greater than the 77% to 81% trigger price.
If the final price is less than the trigger price, investors will be fully exposed to the decline in the stock price from the initial share price.
The exact terms will be set at pricing.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
The notes (Cusip: 90274P138) will price Feb. 6 and settle Feb. 11.
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