New York, Oct. 15 – UBS AG, London Branch priced $200,000 of trigger phoenix autocallable optimization securities due Oct. 15, 2020 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above the trigger price – 80% of the initial price – on a half yearly observation date, the issuer will pay a contingent coupon for that half year at the rate of 7.25%. Otherwise, no coupon will be paid that half year.
If the fund closes at or above the initial price on a half yearly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and the fund finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the fund’s decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger phoenix autocallable optimization securities
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Underlying fund: | Financial Select Sector SPDR Fund
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Amount: | $200,000
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Maturity: | Oct. 15, 2020
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Coupon: | 7.25%, payable half yearly if stock closes at or above trigger price on observation date for that half year
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Price: | Par of $10.00
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Payout at maturity: | Par plus contingent coupon if the fund finish at or above trigger price; otherwise, par plus fund return
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Call: | Automatically at par plus contingent coupon if the fund closes at or above initial price on a half yearly observation date
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Initial price: | $26.43
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Trigger price: | $21.14, 80% of initial price
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Pricing date: | Oct. 12
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Settlement date: | Oct. 16
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1%
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Cusip: | 90285Q869
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