Published on 7/23/2015 in the Prospect News Structured Products Daily.
New Issue: UBS prices $7.11 contingent income autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., July 23 – UBS AG, London Branch priced $7.11 million of contingent income autocallable securities due July 24, 2020 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the Topix index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8% if each index closes at or above its downside threshold level, 73% of its initial index level, on the determination date for that quarter.
The notes will be automatically called at par of $10 plus the contingent coupon if each index closes at or above its call level, 95% of its initial index level, on any quarterly determination date other than the final one.
If each index finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon. If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the lowest-performing index.
UBS Securities LLC and Morgan Stanley Smith Barney LLC are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and Topix
|
| Amount: | $7,108,000
|
| Maturity: | July 24, 2020
|
| Coupon: | 8% per year, payable quarterly if each index closes at or above its downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par plus final contingent coupon; if final level of any index is less than downside threshold level, full exposure to decline of lowest-performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above call threshold level on any quarterly determination date other than final one
|
| Initial index levels: | 3,647.96 for Euro Stoxx 50, 1,254.574 for Russell 2000 and 1,673.88 for Topix
|
| Call threshold levels: | 3,465.56 for Euro Stoxx 50, 1,191.845 for Russell 2000 and 1,590.19 for Topix, 95% of initial index levels
|
| Downside threshold: | 2,663.01 for Euro Stoxx 50, 915.839 for Russell 2000 and 1,221.93 for Topix; 73% of initial index levels
|
| Pricing date: | July 21
|
| Settlement date: | July 24
|
| Agents: | UBS Securities LLC and Morgan Stanley Smith Barney LLC
|
| Fees: | 3%
|
| Cusip: | 90275C482
|
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