By Taylor Fox
New York, Feb. 22 – UBS AG, London Branch priced $15.97 million of trigger autocallable contingent yield notes due Jan. 31, 2024 linked to the shares of the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9% per year if the shares close at or above the coupon barrier, 67.5% of the initial share price, on the observation date for that period.
The notes will be automatically called at par if the shares close at or above the initial share price on any quarterly observation date after six months.
If the notes are not called and the final share price is greater than or equal to the 67.5% downside threshold level, the payout at maturity will be par. Otherwise, investors lose 1% for each 1% decline of the ETF from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETF: | iShares Silver Trust
|
| Amount: | $15,969,710
|
| Maturity: | Jan. 31, 2024
|
| Contingent coupon: | 9% annual rate, payable quarterly if ETF closes at or above coupon barrier on observation date for that period
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless ETF finishes below downside threshold level, in which case full exposure to losses of ETF
|
| Call: | At par if ETF closes at or above initial level on any quarterly observation date after six months
|
| Initial price: | $23.42
|
| Coupon barrier level: | $15.81, 67.5% of initial price
|
| Downside threshold level: | $15.81, 67.5% of initial price
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 29
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90278X228
|
© 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.
