Published on 9/6/2017 in the Prospect News Structured Products Daily.
New Issue: UBS sells $6.32 million trigger autocallable contingent yield notes on S&P, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Sept. 6 – UBS AG, London Branch priced $6.32 million of trigger autocallable contingent yield notes due Aug. 31, 2020 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 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 6.46% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying indexes: | Euro Stoxx 50 and S&P 500
|
Amount: | $6,324,000
|
Maturity: | Aug. 31, 2020
|
Coupon: | 6.46%, payable quarterly if each index closes at or above coupon barrier on observation date
|
Price: | Par of $10
|
Call: | After six months, at par plus contingent coupon if both indexes closes at or above initial levels on any quarterly observation date other than the final one
|
Payout at maturity: | Par unless either index closes below 70% downside threshold, in which case 1% loss for each 1% decline of worse performing index
|
Initial index levels: | 3,388.22 for Stoxx, 2,446.30 for S&P
|
Barriers/thresholds: | 2,371.75 for Stoxx, 1,712.41 for S&P; 70% of initial levels
|
Pricing date: | Aug. 29
|
Settlement date: | Aug. 31
|
Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | 2%
|
Cusip: | 90280V174
|
|
© 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.