By Susanna Moon
Chicago, Sept. 10 – UBS AG, London Branch priced $2.21 million of 7% airbag autocallable yield optimization notes due Sept. 12, 2016 linked to Microsoft Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Microsoft 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 Microsoft shares equal to $1,000 divided by the conversion price. The conversion price is 87% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | Microsoft Corp. (Symbol: MSFT)
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Amount: | $2,213,000
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Maturity: | Sept. 12, 2016
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Coupon: | 7%, 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 26.9760 Microsoft shares
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Call: | At par if shares close at or above initial share price on any quarterly observation date
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Initial share price: | $42.61
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Conversion price: | 87% of initial level
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Pricing date: | Sept. 4
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Settlement date: | Sept. 10
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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: | 90275G103
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