Published on 3/2/2016 in the Prospect News Structured Products Daily.
New Issue: UBS sells $7.78 million trigger phoenix autocallables linked to indexes
By Susanna Moon
Chicago, March 2 – UBS AG, London Branch priced $7.78 million of trigger phoenix autocallable optimization securities due March 1, 2021 linked to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 14.11% if each index closes at or above the coupon barrier level – 75% of the initial level – on an observation date for that quarter.
The notes will be called at par plus the contingent coupon 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 contingent coupon unless either index finishes below the 75% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying indexes: | Euro Stoxx 50, Russell 2000, S&P 500
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| Amount: | $7.78 million
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| Maturity: | March 1, 2021
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| Coupon: | 14.11%, payable quarterly if each index closes at or above 75% coupon barrier level on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if each index finishes at or above trigger level; otherwise, par plus return of worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on a quarterly observation date after six months
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| Initial levels: | 2,877.42 | for Euro Stoxx, 1,031.576 for Russell, 1,951.70 for S&P
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| Trigger levels: | 2,158.07 for Euro Stoxx, 773.682 for Russell, 1,463.78 for S&P; 75% of initial levels
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 29
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90275L771
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