By Marisa Wong
Morgantown, W.Va., Oct. 5 – UBS AG, London Branch priced $23.34 million of trigger phoenix autocallable optimization securities due Sept. 28, 2018 linked to the worst performing of the S&P 500 index and 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 9% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final contingent coupon, if any, unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Investment Bank and UBS Financial Services Inc. are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $23,336,500
|
| Maturity: | Sept. 28, 2018
|
| Coupon: | 9% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par plus final contingent coupon, if any; otherwise, full exposure to losses of worse performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly observation date after six months
|
| Initial levels: | 1,881.77 for S&P 500 and 1,090.570 for Russell 2000
|
| Coupon barriers: | 70% of initial levels
|
| Trigger levels: | 70% of initial levels
|
| Pricing date: | Sept. 28
|
| Settlement date: | Sept. 30
|
| Agents: | UBS Investment Bank and UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 90275G236
|
|
|
© 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.
