By Marisa Wong
Morgantown, W.Va., June 26 – UBS AG, London Branch priced $425,000 of trigger phoenix autocallable optimization securities due June 17, 2021 linked to the common stock of ServiceNow, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If ServiceNow stock closes at or above the trigger price – 70% of the initial share price – on a semiannual observation date, the issuer will pay a contingent coupon for that semiannual period at the rate of 13.48%. Otherwise, no coupon will be paid that period.
If the shares close at or above the initial price on a semiannual observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and ServiceNow 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: | ServiceNow, Inc. (Symbol: NOW)
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Amount: | $425,000
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Maturity: | June 17, 2021
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Coupon: | 13.48%, payable semiannually if stock closes at or above trigger price on observation date for that semiannual period
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Price: | Par of $10.00
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Payout at maturity: | Par plus contingent coupon if ServiceNow shares finish at or above trigger price; otherwise, par plus stock return
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Call: | Automatically at par plus contingent coupon if ServiceNow shares close at or above initial price on a semiannual observation date
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Initial share price: | $267.88
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Trigger price: | $187.52, 70% of initial price
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Pricing date: | June 12
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Settlement date: | June 14
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.75%
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Cusip: | 90287V569
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