Published on 1/28/2015 in the Prospect News Structured Products Daily.
New Issue: UBS prices $191,744 three-year call warrants linked to Euro Stoxx 50
By Susanna Moon
Chicago, Jan. 28 – UBS AG, London Branch priced $191,744 of European-style, cash-settled call warrants expiring Jan. 23, 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The 1,498 warrants have a notional amount of $1,000 each, or $1,498,000 total, and sold for $128 each, or 12.8% of the notional amount. The minimum purchase requirement is 79 warrants.
The warrants will be automatically exercised on the expiration date if the index finishes at or above the initial index level. The cash settlement amount will be the greater of (a) the notional amount per warrant multiplied by the index return and (b) zero.
If the index falls, the warrants will expire worthless and investors will lose their entire initial investments in the warrants.
UBS Investment Bank is the underwriter, and J.P. Morgan Securities LLC is the agent.
| Issuer: | UBS AG, London Branch
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| Issue: | Call warrants
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| Amount: | $191,744
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| Underlying index: | Euro Stoxx 50
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| Warrants: | 1,498
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| Notional amount: | $1,000 each, or $1,498,000 total
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| Price: | $128 each, or $191,744 total
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| Expiration date: | Jan. 23, 2018
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| Cash settlement date: | Jan. 26, 2018
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| Payout: | If index gains, warrants will be automatically exercised and investors will receive greater of (a) notional amount per warrant multiplied by index return and (b) zero; otherwise, warrants will expire worthless and investors will receive nothing
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| Initial index level: | 3,382.55
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 28
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| Underwriter: | UBS Investment Bank
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | $6.50 per warrant
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| Cusip: | 90274F742
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