Published on 11/30/2015 in the Prospect News Structured Products Daily.
New Issue: UBS prices $12.96 million trigger phoenix autocallables linked to Euro Stoxx, Russell
By Angela McDaniels
Tacoma, Wash., Nov. 30 – UBS AG, London Branch priced $12.96 million of trigger phoenix autocallable optimization securities due Nov. 28, 2025 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 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 8.73% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
Beginning Nov. 28, 2016, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and each index finishes at or above its trigger level, 50% of its initial level, the payout at maturity will be par plus the final contingent coupon, if any. Otherwise, investors will be exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $12,960,470
|
| Maturity: | Nov. 28, 2025
|
| Coupon: | 8.73% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon, if any, if each index finishes at or above trigger level; otherwise, full exposure to decline of lesser-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date from Nov. 28, 2016 onward
|
| Initial index levels: | 3,462.06 for Euro Stoxx 50 and 1,198.015 for Russell 2000
|
| Trigger levels: | 1,731.03 for Euro Stoxx 50 and 599.008 for Russell 2000; 50% of initial levels
|
| Coupon barriers: | 2,423.44 for Euro Stoxx 50 and 838.611 for Russell 2000; 70% of initial levels
|
| Pricing date: | Nov. 25
|
| Settlement date: | Nov. 30
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.5%
|
| Cusip: | 90275G822
|
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