By Susanna Moon
Chicago, July 2 – UBS AG, London Branch priced $2.53 million of trigger autocallable contingent yield notes due July 2, 2019 linked to Relevant Nearby ICE-traded Brent Crude Oil Futures Contract, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 13% if the price of crude closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par if crude closes at or above its initial level on any quarterly observation date other than the final date.
The payout at maturity will be par unless crude finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying asset: | Relevant Nearby ICE-traded Brent Crude Oil Futures Contract
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Amount: | $2.53 million
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Maturity: | July 2, 2019
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Coupon: | 13% annualized, payable quarterly if crude closes at or above its 75% coupon barrier on the observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | If crude finishes at or above trigger level, par; otherwise, 1% loss per 1% decline
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Call: | At par if crude closes at or above its initial level on each quarterly observation date other than final date
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Initial level: | $77.62
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Downside threshold: | $58.22, 75% of initial level
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Pricing date: | June 27
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Settlement date: | June 29
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90281A561
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