Published on 7/21/2015 in the Prospect News Structured Products Daily.
New Issue: UBS sells $5.8 million contingent income autocallables on three indexes
By Marisa Wong
Madison, Wis., July 21 – UBS AG, London Branch priced $5.8 million of contingent income autocallable securities due July 22, 2020 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 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 7% if each index closes at or above its 80% coupon barrier level on the observation date for that quarter.
The notes will be called 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.
The payout at maturity will be par unless any index finishes below its 60% downside threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 and S&P 500
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| Amount: | $5,802,600
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| Maturity: | July 22, 2020
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| Coupon: | 7% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par of $10
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| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case exposure to decline of worst performing index
|
| Call: | At par plus contingent payment if each index closes at or above initial level on any quarterly determination date other than final date
|
| Initial levels: | 18,086.45 for Dow, 1,267.092 for Russell, 2,126.64 for S&P
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| Barrier levels: | 14,469.16 for Dow, 1,013.674 for Russell, 1,701.31 for S&P; 80% of initial levels
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| Downside thresholds: | 10,851.87 for Dow, 760.255 for Russell, 1,275.98 for S&P; 60% of initial levels
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| Pricing date: | July 17
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| Settlement date: | July 22
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| Agent: | UBS Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 3%
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| Cusip: | 90275C391
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