Published on 3/15/2016 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.53 million trigger phoenix autocallables linked to MSCI EAFE, S&P 500
By Angela McDaniels
Tacoma, Wash., March 15 – UBS AG, London Branch priced $1.53 million of trigger phoenix autocallable optimization securities due March 15, 2019 linked to the lesser performing of the MSCI EAFE 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 at the rate of 8.85% per year if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that quarter.
Beginning Sept. 12, 2016, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and each index finishes at or above its trigger level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | MSCI EAFE and S&P 500
|
| Amount: | $1,532,000
|
| Maturity: | March 15, 2019
|
| Coupon: | 8.85% per year, payable quarterly if each index closes at or above trigger level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if each index finishes at or above trigger level; otherwise, full exposure to decline of lesser-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date from Sept. 12, 2016 onward
|
| Initial index levels: | 1,644.94 for MSCI EAFE and 2,022.19 for S&P 500
|
| Trigger levels: | 1,151.46 for MSCI EAFE and 1,415.53 for S&P 500; 70% of initial levels
|
| Pricing date: | March 11
|
| Settlement date: | March 16
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90275L854
|
© 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.
