Published on 7/30/2015 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.31 million trigger return optimization notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., July 30 – UBS AG, London Branch priced $5.31 million of trigger return optimization securities due July 31, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 1.5 times the index return, subject to a maximum return of 36.3%. If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 75% of the initial index level, the payout will be par. If the final index level is less than the trigger level, investors will be fully exposed to the index’s decline.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger return optimization securities
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Underlying index: | Russell 2000
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Amount: | $5,307,530
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Maturity: | July 31, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than initial index level, par plus 1.5 times index return, subject to 36.3% maximum return; if index return is zero or negative and final index level is greater than or equal to trigger level, par; if final index level is less than trigger level, full exposure to index’s decline
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Initial index level: | 1,224.599
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Trigger level: | 918.449, 75% of initial level
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Pricing date: | July 28
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Settlement date: | July 31
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.5%
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Cusip: | 90275C300
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