Published on 4/1/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $8.76 million trigger phoenix autocallables tied to Euro Stoxx, Russell
By Jennifer Chiou
New York, April 1 - UBS AG, London Branch priced $8,764,600 of trigger phoenix autocallable optimization securities due March 28, 2024 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each component finishes at or above its coupon barrier, 70% of its initial level, on a quarterly observation date, the notes will pay a contingent coupon at an annual rate of 7.21% for that quarter.
The notes will be called at par of $10 plus the contingent coupon if each component closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the contingent coupon unless either component finishes at or above its trigger level, 50% of its initial level, in which case investors will be exposed to any losses of the worst performing component.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Euro Stoxx 50 index and Russell 2000 index
|
| Amount: | $8,764,600
|
| Maturity: | March 28, 2024
|
| Coupon: | 7.21% per year, payable quarterly if each component finishes at or above its coupon barrier on a quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon unless either component finishes at or above its trigger level, in which case investors will be exposed to any losses of worst performing component
|
| Call: | At par plus contingent coupon if each component closes at or above its initial level on any quarterly observation date after one year
|
| Initial levels: | 3,133.75 for Euro Stoxx, 1,151.4406 for Russell
|
| Coupon barrier levels: | 2,193.63 for Euro Stoxx, 806.0084 for Russell; 70% of initial levels
|
| Trigger levels: | 1,566.88 for Euro Stoxx, 575.7203 for Russell; 50% of initial levels
|
| Pricing date: | March 27
|
| Settlement date: | March 31
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.5%
|
| Cusip: | 90272V491
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