Obligation UBG 5.5% ( XS1331159274 ) en EUR

UBG

100 % ⇌

Suisse

XS1331159274 ( en EUR )

5.5% par an ( paiement annuel )

18/12/2017 - Obligation échue

Prospectus brochure de l'obligation UBS XS1331159274 en EUR 5.5%, échue

1 000 EUR

2 000 000 EUR

UBS est une banque suisse multinationale offrant une large gamme de services financiers, notamment la gestion de fortune, la banque d'investissement et la gestion d'actifs, à une clientèle privée et institutionnelle mondiale.

L'obligation UBS (XS1331159274), émise en Suisse en EUR, d'un montant total de 2 000 000 EUR avec une taille minimale d'achat de 1 000 EUR, offrant un taux d'intérêt de 5,5% et une fréquence de paiement annuelle, est arrivée à échéance le 18/12/2017 et a été intégralement remboursée à 100% de sa valeur nominale.

NO PROSPECTUS IS REQUIRED IN ACCORDANCE WITH DIRECTIVE 2003/71/EC FOR THE ISSUE OF
NOTES DESCRIBED BELOW.
PRICING SUPPLEMENT
The Pricing Supplement dated 18 December 2015
UBS AG,
acting through its London branch
Issue of EUR 1,000,000 Automatic Early Redeemable Notes linked to Deutsche Telekom AG, Orange SA, Telecom Italia
S.p.A. and China Telecom Corp Limited shares ("Tranche 2") to be consolidated and form a single series with the
existing issue of EUR 1,000,000 Automatic Early Redeemable Notes linked to Deutsche Telekom AG, Orange SA,
Telecom Italia S.p.A. and China Telecom Corp Limited shares due 2017 ("Tranche 1") under the Euro Note
Programme
PART A CONTRACTUAL TERMS
The Base Prospectus referred to below (as completed by this Pricing Supplement) has been prepared on the basis that
any offer of Notes in any Member State of the European Economic Area which has implemented the Prospectus
Directive (as defined below) (each, a "Relevant Member State") will be made pursuant to an exemption under the
Prospectus Directive, as implemented in that Relevant Member State, from the requirement to publish a prospectus for
offers of the Notes. Accordingly any person making or intending to make an offer in that Relevant Member State of the
Notes may only do so in circumstances in which no obligation arises for the Issuer or any Dealer to publish a prospectus
pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16 of the Prospectus
Directive, in each case, in relation to such offer. Neither the Issuer nor any Dealer has authorised, nor do they authorise,
the making of any offer of Notes in any other circumstances.
The expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD
Amending Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing
measure in the Relevant Member State and the expression "2010 PD Amending Directive" means Directive
2010/73/EU.
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Listing
Particulars dated 22 June 2015 and the supplemental Base Listing Particulars dated 14 August 2015 and 02 December
2015 which together constitute a base listing particulars for the purposes of admission to trading on the Luxembourg
Stock Exchange's Euro MTF Market; and a technical annex of equity linked conditions and risk factors (Version 3, June
2015) including adjustment and disruption provisions (the "Equity Linked Conditions"). This document constitutes the
Pricing Supplement of the Notes described herein and must be read in conjunction with such Base Listing Particulars as
so supplemented and the Equity Linked Conditions.
Full information on the Issuer and the offer of the Notes described herein is only available on the basis of the
combination of this Pricing Supplement and the Base Listing Particulars as so supplemented. The Base Listing
Particulars and the supplemental Base Listing Particulars are available for viewing at UBS Investment Bank, a business
division of UBS AG, P.O. Box CH-8001, Zurich, Switzerland, or can be ordered by telephone (+41 44 239 47 03), fax
(+41 44 239 69 14) or by e-mail to [email protected].
An investment in the Notes involves certain risks. Noteholders should read and understand the risk factors in the
Base Listing Particulars and the Equity Linked Conditions. Noteholders should understand that such risk
factors are not exhaustive.
The Notes have not and will not be registered under the United States Securities Act of 1933, as amended (the
"Securities Act"), or any state securities laws in the United States and are being offered and sold outside the United
States to non-US persons (as such terms are defined in Regulation S under the Securities Act ("Regulation S")) in
reliance on the exemption from registration provided pursuant to Regulation S. The Notes (a) may not be offered, sold
or otherwise transferred within the United States or to the account of any US Person (as defined in Regulation S under
the Securities Act) and (b) may be offered, sold or otherwise transferred only to transferees that are Non-United States

Persons (as defined by the Commodity Futures Trading Commission). Notes sold in reliance on Regulation S will
initially be represented by one or more permanent global notes in registered form without interest coupons (each, a
"Regulation S Global Note"), deposited with or on behalf of a common depository for Euroclear or Clearstream.
Beneficial interests in a Regulation S Global Note may be held only through Euroclear or Clearstream, except in the
limited circumstances described in the Base Listing Particulars. Investors may hold their interests in a Regulation S
Global Note directly through Euroclear or Clearstream, if they are participants in such systems, or indirectly through
organizations which are participants in such systems.
Issue Price and Commissions
The Issue Price in respect of the Notes may not be an accurate reflection of the market value of the Notes as at the Issue
Date. The price at which the Notes may be sold in secondary market transactions may be lower or higher than the Issue
Price. In particular, the Issue Price in respect of the Notes may take into account, amongst other things, any
commissions, fees or other compensation payable in connection with the Notes. More generally, fees and commissions
may be paid to third parties in respect of the Notes further details can be requested from the Issuer.
No Secondary Market
No secondary market for the Notes currently exists, nor is one likely to develop. Noteholders should have the ability
and intent to hold the Notes until their Maturity Date. It is the current practice (but not the legal obligation) of UBS AG
and/or its affiliates ("UBS"), in respect of notes for which UBS is the Arranger, to quote on request a live price, which it
might pay/charge for early termination of any note of this type that it issues. A live unwind price may be affected by,
amongst other things, then current market conditions, including but not limited to, liquidity and market standard
denomination. UBS is under no obligation to hold a price quoted for any length of time unless this is agreed at the time
of giving the quote.
Hedging Activities
UBS' hedging activities related to the Notes may have an impact on the price of the underlying Indices and may affect
the likelihood that any relevant level is crossed. UBS has policies and procedures designed to minimise the risk that
officers and employees are influenced by any conflicting interest or duty and that confidential information is improperly
disclosed or made available.
1.
Issuer:
UBS AG, acting through its London branch
2.
(i)
Series
Number:
14488/15

(ii)
Tranche Number:
2

(iii)
Date on which the Notes The Notes shall be consolidated, form a single series
become fungible
and be interchangeable for trading purposes with the
existing issue of EUR 1,000,000 Notes (Tranche 1) on
18 December 2015.
3.
Currency
or
Currencies/Specified Euro ("EUR")
Currency:
4.
Aggregate
Nominal
Amount:

(i)
Series:
EUR
2,000,000
(ii)
Tranche:
EUR
1,000,000
(Tranche
2)
EUR 1,000,000 (Tranche 1)
5.
Issue Price:
100 per cent. of the Aggregate Nominal Amount
2

6.
(i)
Specified
Denomination:
Registered
Notes
EUR 1,000
No Notes in definitive form will be issued with a
denomination below the minimum Specified
Denomination.
A Noteholder who holds an amount which is less
than the minimum Specified Denomination in his
account with the relevant clearing system at the
relevant time may not receive a definitive Note in
respect of such holding (should definitive Notes be
printed) and would need to purchase a nominal
amount of Notes such that its holding amounts to the
minimum Specified Denomination.

(ii)
Calculation Amount:
EUR 1,000

(iii)
Calculation Agent:
UBS AG, London Branch
7.
(i)
Issue Date:
18 December 2015 (Tranche 2)
16 December 2015 (Tranche 1)
(ii)
Interest
Commencement
16 December 2015
Date:
8.
Maturity Date:
10 (ten) Business Days following the Final Valuation
Date. The Maturity Date is scheduled to be 18
December 2017.
9.
Interest Basis:
Fixed (contingent see Schedule 1 and item 16 below)
10.
Redemption/Payment Basis:
Other equity linked redemption (see Schedule 1)

Knock-in Event:
Applicable see Redemption Amount and the Equity
Linked Conditions.

Final Valuation Knock-in Basis:
Applicable see Redemption Amount and the Equity
Linked Conditions.
Continuous
Observation
Knock-in
Not Applicable
Basis:

Closing Level Observation Knock-
Not Applicable
in Basis:
11.
Change of Interest or Redemption/ Not Applicable
Payment Basis:
12.
Put/Call
Options:
Not
Applicable
13.
Status of the Notes:
Senior
14.
Date Board approval for issuance Not Applicable
of Notes obtained:
3

15.
Method of distribution:
Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16.
Fixed Rate Note Provisions:
Applicable

Interest will only be paid on the Notes in the
circumstances set out in Schedule 1 and in the event
that those circumstances do not exist, Noteholder(s)
will not receive any interest and interest will be
deemed not to have accrued on the Notes.
For the purposes of Condition 9(e), "principal" shall not
include any amount of interest.

(i)
Rate of Interest:
See Schedule 1.
(ii)
Interest Payment Date(s):
10 (ten) Business Days following each Observation
Date; and the Maturity Date.
(iii)
Fixed
Coupon
Amount(s): Not
Applicable
(iv)
Broken
Amount: Not
Applicable

(v)
Day Count Fraction:
Not Applicable

(vi)
Other terms relating to the See Schedule 1.
method of calculating
interest for Fixed Rate
Notes:
17.
Floating Rate Note Provisions:
Not Applicable
18.
Zero Coupon Note Provisions:
Not Applicable
19.
Index/Credit-Linked
Note
Not Applicable
Provisions:
20.
Dual Currency Note Provisions:
Not Applicable
PROVISIONS RELATING TO REDEMPTION
21.
Redemption Amount:
See Schedule 1.
22.
Redemption at the option of the Not Applicable
Issuer:
23.
Redemption at the option of the Not Applicable
Noteholder(s):
24.
Tax Redemption Amount:
If the Notes are redeemed as a result of the Issuer
being required to pay Additional Amounts then the
Redemption Amount will be an amount equal to the
Early Redemption Amount.
25.
Optional Redemption Amount:
Not Applicable
26.
Optional Redemption Date:
Not Applicable
4

27.
Notice period for notice to the Not Applicable
Noteholders in the case of
redemption at the option of the
Issuer:
28.
Notice period for redemption at the Not Applicable
option of the Noteholders:
29.
Minimum/Higher
Redemption Not Applicable
Amount:
30.
Other Redemption details:
See Schedule 1.
31.
Final Redemption Amount of each The Redemption Amount
Note:
32.
Early Redemption Amount: Early Condition 7(i)(ii) will apply and the Early Redemption
Redemption Amount(s) of each Note Amount will be, in respect of each nominal amount of
payable on event of default or other Notes equal to the Calculation Amount, the fair market
early redemption and/or the method value of such Notes, less a pro rata share of the costs
of calculating the same:
of unwinding any related underlying hedging
arrangements, as determined by the Calculation Agent
on a day selected by the Calculation Agent which such
day must be at least 5 (five) Business Days prior to the
due date for early redemption. For the purposes of
determining the fair market value of the Notes in the
case of an event of default, the Issuer will be deemed
to be able to meet its obligations in full as these fall
due. In no circumstances will any amount of
interest be payable in respect of the Notes on an
early redemption of the Notes and interest will be
deemed to have ceased to accrue as of the previous
Interest Payment Date on which an amount of
interest was payable (or, if none, the Issue Date).
GENERAL PROVISIONS APPLICABLE TO THE NOTES
33.
Applicability of Condition 8(e):
Not Applicable
34.
Form of Notes:
Registered Notes:

Unrestricted Global Note registered in the name of a
nominee for a common depositary for Euroclear and
Clearstream, Luxembourg.
35.
New
Global
Note:
No
36.
Business
Days:
London and TARGET2

Pounds Sterling and Euro
Business Day Convention:
Following Business Day Convention

37.
Talons for future Coupons or Receipts Not Applicable
to be attached to Definitive Notes (and
dates on which such Talons mature):
5

38.
Details relating to Partly Paid Notes:
Not Applicable
amount of each payment comprising
the Issue Price and date on which each
payment is to be made and
consequences (if any) of failure to
pay, including any right of the Issuer
to forfeit the Notes and interest due on
late payment:
39.
Redenomination
applicable:
No
40.
Exchangeability
applicable:
No

41.
Other final terms or special See Schedule 1 and the Equity Linked Conditions
conditions:
and Risk Factors
LISTING AND ADMISSION TO TRADING APPLICATION
This Pricing Supplement comprises the final terms required for the Notes described herein to be admitted to trading on
the Euro MTF Market of the Luxembourg Stock Exchange pursuant to the Euro Note Programme of UBS AG.
GOVERNING LAW
English law
PLACE OF JURISDICTION
England
Signed on behalf of the Issuer
By:

Duly authorized

By:

Duly authorized

6

PART B OTHER INFORMATION
1.
LISTING:

(i)
Listing:
Euro MTF Market of the Luxembourg Stock
Exchange.

(ii)
Admission to trading:
Application has been made for Tranche 2 of the
Notes to be admitted to trading on the Luxembourg

Stock Exchange's Euro MTF Market with effect
from 18 December 2015.
No guarantee is given that the Notes will be listed
and admitted to trading on the Issue Date.
Tranche 1 of the Notes was listed and admitted to
trading on the Euro MTF Market of the
Luxembourg Stock Exchange on 16 December
2015.
2.
RATINGS

Ratings:
The Notes shall not be rated.
3.
DISTRIBUTION

If syndicated, names and address of
Not Applicable
Managers and underwriting
commitments:

If non-syndicated, name and address of
UBS Limited, 1 Finsbury Avenue, London EC2M
Purchaser:
2PP, United Kingdom

Total commission and concession
Not Applicable

U.S.
Selling
Restrictions:
Reg. S Compliance Category 2. TEFRA Not
Applicable

Additional Selling Restrictions:
Not Applicable

4.
RESPONSIBILITY STATEMENT
The Issuer accepts responsibility for the information contained in this Pricing Supplement.
5.
OPERATIONAL INFORMATION
ISIN
Code:
XS1331159274

Common
Code:
133115927

Intended to be held in a manner which No. Whilst the designation is specified as "no" at
would allow Eurosystem eligibility:
the date of this Pricing Supplement, should the
Eurosystem eligibility criteria be amended in the
future such that the Notes are capable of meeting
them the Notes may then be deposited with one of
the ICSDs as common safekeeper. Note that this
7

does not necessarily mean that the Notes will then
be recognised as eligible collateral for Eurosystem
monetary policy and intraday credit operations by
the Eurosystem at any time during their life. Such
recognition will depend upon the ECB being
satisfied that Eurosystem eligibility criteria have
been met.

Any clearing system(s) and the relevant Euroclear Bank S.A/N.V/Clearstream Banking
identification number(s):
société anonyme

Delivery:
Delivery against payment

Names and addresses of additional Not Applicable
Paying Agent(s) (if any):

8

SCHEDULE 1
Terms used in this Schedule 1 and not otherwise defined have the meaning given in the Equity Linked Conditions and
the provisions of this Pricing Supplement (including Schedule 1) are subject to and should be read together with the
Equity Linked Conditions. Certain specified payment and, if applicable, delivery dates may be delayed in accordance
with the provisions of the Equity Linked Conditions.
1.
Contingent Interest Amount
Provided that the Notes have not previously been redeemed or purchased and cancelled:
(a)
if the Calculation Agent determines that, on an Observation Date(n) and the Final Valuation Date, the Share
Closing Price of each of the Shares is equal to or greater than its respective Contingent Coupon Level then, in
respect of each Note of a nominal amount equal to the Calculation Amount, the Interest Amount will be
determined by the Calculation Agent in accordance with the following formula and will be payable on the
corresponding Interest Payment Date:
Interest Amount = [Calculation Amount x (Rate of Interest x n)] Aggregate Prior Interest Amount
Rate of Interest means 5.50 per cent.
or
(b)
otherwise, no amount of interest will be payable on such Interest Payment Date.

Aggregate Prior Interest Amount means in respect of a Note of a nominal amount equal to the Calculation Amount,
the sum of all Interest Amounts, if any, payable in respect of such Note in accordance with this paragraph 1 (Contingent
Interest Amount), prior to such Observation Date(n) or Final Valuation Date, as the case may be.
2.
Mandatory Early Redemption
Provided that the Notes have not previously been redeemed or purchased and cancelled, if a Mandatory Early
Redemption Event has occurred with respect to an Observation Date(n):
(a)
the Notes will redeem early on the Mandatory Early Redemption Date;
(b)
the Mandatory Early Redemption Amount will be paid in respect of each Note of a nominal amount equal to
the Calculation Amount on the Mandatory Early Redemption Date; and
(c)
other than the amount of interest, if any, payable on the Interest Payment Date immediately following such
Observation Date(n) pursuant to Paragraph 1 (Contingent Interest Amount) above, no further amount of interest
will be payable in respect of the Notes following such Interest Payment Date or, if no amount of interest is then
payable, the previous Interest Payment Date on which an amount of interest was payable (or, if none, the Issue
Date).
Mandatory Early Redemption Amount means the Calculation Amount.
Mandatory Early Redemption Date means the day that is 10 (ten) Business Days following the relevant Observation
Date(n) on which a Mandatory Early Redemption Event occurs.
A "Mandatory Early Redemption Event" will be deemed to occur if the Calculation Agent determines that, on any
Observation Date(n), the Share Closing Price of each of the Shares is equal to or greater than its respective Mandatory
Early Redemption Level.
9

3.
Redemption Amount
Provided that the Notes have not previously been redeemed or purchased and cancelled, a Redemption Amount in
respect of each Note of a nominal amount equal to the Calculation Amount will be payable on the Maturity Date and
will be equal to the amount determined by the Calculation Agent in accordance with the following provisions as:
either
(a)
if a Knock-in Event has not occurred, the Calculation Amount;
or
(b)
if a Knock-in Event has occurred:

ShareFinal
i
n
Calculatio Amount× Min

i 1 to 4

=

al
ShareIniti i
A "Knock-in Event" will occur if the Calculation Agent determines that, on the Final Valuation Date
(the "Knock-in Determination Date"), the Share Closing Price of any Share is less than its respective Knock-
in Level.
4.
Reference levels and dates
Contingent Coupon Level, Initial Level, Knock-in Level and Mandatory Early Redemption Level mean, in respect
of a Share, the level specified for such Share under the appropriate heading in the "Underlyings and Levels" table
below.
ShareFinali means, in respect of a Share, the Share Closing Price of such Share on the Final Valuation Date.
ShareInitiali means, in respect of a Share, the level specified for such Share under the heading "Initial Level" in the
"Underlying and Levels" table below.

Underlyings and Levels
Sharei Share
Initial
Contingent
Mandatory
Knock-in
Currency
Level
Coupon
Early
Level
Level
Redemption
Level
Deutsche Telekom AG
EUR 17.29 13.83 17.29 12.10
(Bloomberg: DTE GY Equity) ("Share1")
Orange SA
EUR 16.185 12.948 16.185 11.330
(Bloomberg: ORA FP Equity) ("Share2")
Telecom Italia S.p.A
EUR 1.177 0.942 1.177 0.824
(Bloomberg: TIT IM Equity) ("Share3")
China Telecom Corp Limited
HKD 3.72 2.98 3.72 2.60
(Bloomberg: 728 HK Equity) ("Share4")

10