Published on 1/5/2016 in the Prospect News Structured Products Daily.
New Issue: UBS prices $14.86 million trigger phoenix autocallables on S&P, Russell
By Susanna Moon
Chicago, Jan. 5 – UBS AG, London Branch priced $14.86 million of trigger phoenix autocallable optimization securities due Jan. 5, 2026 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.67% if each index closes at or above its coupon barrier level, 70% of its initial level, on an observation date for that quarter.
The notes will be called at par if each index closes at or above its initial price on any quarterly observation date after one year.
If each index finishes at or above the coupon barrier, the payout at maturity will be par plus the final contingent coupon.
If either index falls below the coupon barrier but each index finishes at or above the 50% trigger level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlyings: | S&P 500 and Russell 2000
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| Amount: | $14,862,600
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| Maturity: | Jan. 5, 2026
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| Coupon: | 7.67% per year if each index closes at or above its barrier level on any quarterly observation date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above the coupon barrier, par plus the final contingent coupon; if either index falls below the coupon barrier but each index finishes at or above trigger level, par; otherwise, full exposure to any losses of worse performing index
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| Call: | At par if each index closes at or above its initial price on any quarterly observation date after one year
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| Initial levels: | 2,078.36 for S&P, 1,160.522 for Russell
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| Barrier levels: | 1,454.85 for S&P, 812.365 for Russell; 70% of initial levels
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| Trigger levels: | 1,039,18 for S&P, 580.261 for Russell; 50% of initial levels
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| Pricing date: | Dec. 29
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| Settlement date: | Dec. 31
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| Agent: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.5%
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| Cusip: | 90275L227
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