Published on 11/18/2015 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.75 million trigger phoenix callable notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Nov. 18 – UBS AG, London Branch priced $3.75 million of trigger phoenix callable optimization securities due Nov. 25, 2019 linked to the worst performing of the MSCI EAFE index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter. The contingent coupon rate is 8.55% per year.
If the notes are not called and each index finishes at or above its barrier level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the worst-performing index from its initial level.
The notes are callable at par on any quarterly observation date.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix callable optimization securities
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| Underlying indexes: | MSCI EAFE, Russell 2000 and S&P 500
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| Amount: | $3.75 million
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| Maturity: | Nov. 25, 2019
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 8.55% per year if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to decline of worst-performing index from initial level
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| Call option: | At par on any quarterly observation date.
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| Initial levels: | 1,706.61 for MSCI EAFE, 1,156.083 for Russell 2000 and 2,053.19 for S&P 500
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| Barrier levels: | 1,023.97 for MSCI EAFE, 693.6350 for Russell 2000 and 1,231.91 for S&P 500; 60% of initial levels
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 19
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.75%
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| Cusip: | 90275G806
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