New Issue: UBS prices $4.73 million contingent income autocallables linked to three indexes

By Toni Weeks

San Luis Obispo, Calif., Nov. 13 - UBS AG, London Branch priced $4.73 million of contingent income autocallable securities due Nov. 14, 2018 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the Topix index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index closes at or above its coupon barrier level, 65% of its initial index level, on a quarterly determination date, investors will receive a contingent payment of $0.20 that quarter, equivalent to 8% per year.

The notes will be automatically redeemed at par plus the contingent coupon if all of the indexes close at or above their respective initial levels on any of the first 19 quarterly redemption determination dates.

If the notes are not called and each index finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par plus the final contingent coupon. If any index finishes below its downside threshold level, investors will be fully exposed to the decline of the worst-performing index from its initial level.

UBS Securities LLC is the agent. Morgan Stanley Smith Barney LLC will handle distribution.

Issuer:	UBS AG, London Branch
Issue:	Contingent income autocallable securities
Underlying indexes:	Euro Stoxx 50, Russell 2000, Topix
Amount:	$4,729,000
Maturity:	Nov. 14, 2018
Coupon:	8% per year, payable quarterly if each index closes at or above its coupon barrier level on the determination date for that quarter
Price:	Par of $10
Payout at maturity:	If each index finishes at or above its downside threshold level, par plus the final contingent coupon; otherwise, full exposure to losses of worst performing index
Call:	At par plus the contingent coupon if each index closes at or above its initial level on any of the first 19 quarterly determination dates
Initial index levels:	3,034.91 for Euro Stoxx, 1,099.97 for Russell and 1,176.42 for Topix
Coupon barriers/downside thresholds:	1,972.69 for Euro Stoxx, 714.98 for Russell 2000 and 764.67 for Topix, 65% of initial levels
Pricing date:	Nov. 8
Settlement date:	Nov. 14
Agent:	UBS Securities LLC with Morgan Stanley Smith Barney LLC as dealer
Fees:	3%
Cusip:	90271R327

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.