By Angela McDaniels
Tacoma, Wash., April 29 - UBS AG, London Branch priced $3.51 million of contingent income autocallable securities due April 30, 2019 linked to the worst performing of the Russell 2000 index and Euro Stoxx 50 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% per year if each index closes at or above its barrier level, 75% of its initial level, on the determination date for that quarter.
The notes will be redeemed at par of $10 plus the contingent coupon if each index closes at or above its respective initial level on any of the first 19 quarterly determination dates.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline of the worst-performing index.
UBS Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000, Euro Stoxx 50
|
| Amount: | $3.51 million
|
| Maturity: | April 30, 2019
|
| Coupon: | 8% per year, payable quarterly only if each index closes at or above its barrier level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above barrier level, par plus final contingent coupon; otherwise, full exposure to decline of worst-performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any of first 19 quarterly determination dates
|
| Initial index levels: | 1,123.03 for Russell 2000 and 3,147.40 for Euro Stoxx 50
|
| Barrier level: | 842.273 for Russell 2000 and 2,360.55 for Euro Stoxx 50; 75% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | UBS Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3%
|
| Cusip: | 90272X117
|
© 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.
