Published on 12/8/2015 in the Prospect News Structured Products Daily.
New Issue: UBS prices $7.29 million contingent income autocallables linked to Russell, S&P
New York, Dec. 8 – UBS AG, London Branch priced $7.29 million of contingent income autocallable securities due Dec. 5, 2019 linked to the worst performing of the Russell 2000 index and the S&P 500 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 coupon barrier level, 76% 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 initial index level on any quarterly determination date other than the final one.
If each index finishes at or above its downside threshold level, 76% of its initial index level, the payout at maturity will be par plus the final contingent coupon. If the final level of either index is less than its downside threshold level, investors will be fully exposed to the decline of the least performing index.
UBS Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $7,288,500
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| Maturity: | Dec. 5, 2019
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| Coupon: | 8% per year, payable quarterly if each index closes at or above its coupon barrier level on determination date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold level, par plus final contingent coupon, if any; if final level of any index is less than downside threshold level, full exposure to decline of lowest performing index
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly determination date other than final one
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| Initial index levels: | 1,198.111 for Russell 2000, 2,080.41 for S&P 500
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| Coupon barriers: | 910.564 for Russell 2000, 1,581.11 for S&P 500; 76% of initial index levels
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| Downside threshold: | 910.564 for Russell 2000, 1,581.11 for S&P 500; 76% of initial index levels
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 3
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| Agent: | UBS Securities LLC
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| Distribution: | Morgan Stanley Smith Barney LLC
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| Fees: | 2.75%
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| Cusip: | 90275G830
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