Published on 8/14/2012 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.82 million trigger phoenix autocallables linked to Euro Stoxx 50 index
By Toni Weeks
San Diego, Aug 14 - UBS AG, London Branch priced $1.82 million of 0% trigger phoenix autocallable optimization securities due Aug. 16, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the trigger level, 60% of the initial index level, on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 8% per year. Otherwise, no coupon will be paid that month.
Beginning Aug. 9, 2013, if the index closes at or above the initial level on a monthly observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the index finishes at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the index's decline from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $1,820,500
|
| Maturity: | Aug. 16, 2017
|
| Coupon: | 8% per year, paid annually, if index closes at or above trigger level on monthly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes at or above trigger price, par plus contingent coupon; otherwise, full exposure to losses from initial index level
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on monthly observation date beginning Aug. 9, 2013
|
| Initial level: | 2,423.22
|
| Trigger level: | 1,453.93, 60% of initial level
|
| Pricing date: | Aug. 10
|
| Settlement date: | Aug. 15
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.5%
|
| Cusip: | 90268U887
|
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