Published on 9/3/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.11 million contingent income autocallables linked to three indexes
By Susanna Moon
Chicago, Sept. 3 – UBS AG, London Branch priced $2.11 million of contingent income autocallable securities due Sept. 2, 2021 linked to the worst performing of the Euro Stoxx Banks index, the Russell 2000 index and the Topix index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each index closes at or above its 65% barrier level on a determination date for that quarter.
The notes will be redeemed at par plus the contingent coupon if each index closes at or above its respective initial level on any determination date other than the final date.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon unless any index finishes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Securities LLC is the agent. Morgan Stanley Smith Barney LLC will handle distribution.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Euro Stoxx Banks index, Russell 2000 index, Topix index
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| Amount: | $2,109,500
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| Maturity: | Sept. 2, 2021
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| Coupon: | 9% per year, payable quarterly if each index closes at or above its coupon barrier level on the determination date for that quarter
|
| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above its trigger level, par plus the final contingent coupon; otherwise, full exposure to losses of worst performing index
|
| Call: | At par plus the contingent coupon if each index closes at or above its initial level on any determination date other than the final date
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| Initial index levels: | 94.78 for Euro Stoxx Banks, 1,165.948 for Russell, 1,280.74 for Topix
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| Barrier levels: | 145.82 for Euro Stoxx Banks, 757.866 for Russell, 832.48 for Topix; 65% of initial levels
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| Pricing date: | Aug. 28
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| Settlement date: | Sept. 3
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| Agent: | UBS Securities LLC with Morgan Stanley Smith Barney LLC as dealer
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| Fees: | 3.5%
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| Cusip: | 90273L344
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