Published on 7/5/2017 in the Prospect News Structured Products Daily.
New Issue: UBS sells $2.79 million 14-month capped gears linked to S&P 500
By Marisa Wong
Morgantown, W.Va., July 5 – UBS AG, London Branch priced $2.79 million of 0% capped gears due Aug. 30, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus three times the index return, subject to a maximum return of 10.95%. If the index return is less than zero, investors will have full exposure to the decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Capped gears
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Underlying index: | S&P 500
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Amount: | $2,785,000
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Maturity: | Aug. 30, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 3 times any index gain, capped at 10.95%; full exposure to any losses
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Initial level: | 2,419.38
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Pricing date: | June 27
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Settlement date: | June 30
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.35%
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Cusip: | 90270KKR9
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