Published on 4/12/2016 in the Prospect News Structured Products Daily.
New Issue: UBS sells $4.22 million trigger autocallable contingent yield notes on indexes
By Devika Patel
Knoxville, Tenn., April 12 – UBS AG, London Branch priced $4.22 million of trigger autocallable contingent yield notes due April 12, 2019 linked to the Nasdaq-100 index and the 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 8.64% if each index closes at or above its coupon barrier, 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 beginning Oct. 11, 2016.
The payout at maturity will be par unless either index finishes below the 70% downside threshold 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
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Nasdaq-100 and the Russell 2000
|
| Amount: | $4,221,600
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| Maturity: | April 12, 2019
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| Coupon: | 8.64% per year, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Call: | Beginning Oct. 11, 2016, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par unless index closes below 70% downside threshold level, in which case full exposure to losses of worse performing index
|
| Initial levels: | 4,474.925 for Nasdaq-100, 1,097.314 for Russell
|
| Coupon/trigger level: | 3,132.448 for Nasdaq-100, 768.120 for Russell, 70% of initial levels
|
| Pricing date: | April 8
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| Settlement date: | April 13
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90275R356
|
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