Published on 12/12/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.8 million contingent income autocallables on index basket
By Jennifer Chiou
New York, Dec. 12 – UBS AG, London Branch priced $5.8 million of contingent income autocallable securities due Dec. 10, 2019 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.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each index closes at or above its 70% barrier level on a determination date for that quarter.
The notes will be redeemed at par plus the contingent coupon if each index closes at or above its initial level on any determination date other than the final date.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon unless any index finishes below its 65% downside threshold level, in which case investors will be fully exposed to the decline of the worst-performing index.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management as distributor.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Euro Stoxx 50, Russell 2000, Topix
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| Amount: | $5.8 million
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| Maturity: | Dec. 10, 2019
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| Coupon: | 8.5% per year, payable quarterly if each index closes at or above its barrier level on the determination date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus the final contingent coupon unless any index finishes below its barrier level, in which case full exposure to decline of worst-performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any determination date other than the final date
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| Initial levels: | 3,150.95 for Euro Stoxx, 1,161.865 for Russell, 1,406.83 for Topix
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| Barrier levels: | 2,205.67 for Euro Stoxx, 813.306 for Russell, 984.78 for Topix, 70% of initial levels
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| Downside threshold levels: | 2,048.12 for Euro Stoxx, 755.212 for Russell, 914.44 for Topix; 65% of initial levels
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| Pricing date: | Dec. 10
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| Settlement date: | Dec. 15
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| Agent: | UBS Securities LLC with Morgan Stanley Wealth Management as distributor
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| Fees: | 3%
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| Cusip: | 90274F353
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