Published on 9/23/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.97 million contingent income autocallables on three indexes
By Jennifer Chiou
New York, Sept. 23 – UBS AG, London Branch priced $2,968,500 of contingent income autocallable securities due Sept. 24, 2021 linked to the worst performing of the Topix index, the MSCI Emerging Markets index and the Russell 2000 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 8% if each index closes at or above its 65% coupon 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 65% downside threshold 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 Wealth Management is the distributor.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Topix index, MSCI Emerging Markets index and Russell 2000 index
|
| Amount: | $2,968,500
|
| Maturity: | Sept. 24, 2021
|
| Coupon: | 8% 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
|
| Payout at maturity: | If each index finishes at or above its downside threshold 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
|
| Initial index levels: | 1,331.91 for Topix, 1,053.92 for MSCI EM, 1,146.92 for Russell
|
| Coupon barriers/downside threshold: | 865.74 for Topix, 685.05 for MSCI EM, 745.498 for Russell; 65% of initial levels
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 24
|
| Agent: | UBS Securities LLC with Morgan Stanley Wealth Management
|
| Fees: | 3.5%
|
| Cusip: | 90273L658
|
|
|
© 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.
