Published on 12/29/2015 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.88 million call warrants due 2022 on MSCI Emerging Markets
By Devika Patel
Knoxville, Tenn., Dec. 29 – UBS AG, London Branch priced $1.88 million of European-style, cash-settled call warrants expiring Dec. 23, 2022 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The 188 warrants have a notional amount of $37,623.83 each, or $7,073,280 in total, and sold for $10,000 each, or 26.58% of the notional amount.
The warrants will be automatically exercised on the expiration date if the index’s final level is greater than the initial index level. The cash settlement amount will be the greater of (a) the notional amount per warrant multiplied by the index return and (b) zero. The cash settlement payment date is Dec. 30, 2022.
If the index’s final level is equal to or less than the initial index level, the warrants will expire worthless and investors will lose their entire initial investments in the warrants.
UBS Financial Services, Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Call warrants
|
| Underlying index: | MSCI Emerging Markets
|
| Warrants: | 188
|
| Notional amount: | $37,623.83 each, or $7,073,280 total
|
| Price: | $10,000 each, or $1.88 million total
|
| Expiration date: | Dec. 23, 2022
|
| Cash settlement date: | Dec. 30, 2022
|
| Payout: | If index's final level is greater than initial index level, warrants will be automatically exercised and investors will receive greater of (a) notional amount per warrant multiplied by index return and (b) zero; if index's final level is equal to or less than initial index level, warrants will expire worthless and investors will receive nothing
|
| Initial index level: | 803.13
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 29
|
| Agent: | UBS Financial Services, Inc. and UBS Investment Bank
|
| Fees: | 5%
|
| Cusip: | 90275L292
|
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