Published on 5/6/2016 in the Prospect News Structured Products Daily.
New Issue: UBS prices $20.32 million trigger callable contingent yield notes on three indexes
By Marisa Wong
Morgantown, W.Va., May 6 – UBS AG, London Branch priced $20.32 million of trigger callable contingent yield notes due Aug. 11, 2020 linked to the worst performing of the MSCI EAFE index, the S&P 500 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 9% if each index closes at or above 60% of its initial level on the observation date for that quarter.
The notes will be callable at par of $10 on any quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its 60% downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | MSCI EAFE index, Russell 2000 index and S&P 500 index
|
| Amount: | $20.32 million
|
| Maturity: | Aug. 11, 2020
|
| Coupon: | 9% per year, payable on a quarter if each index closes at or above its barrier level observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below downside threshold, in which case full exposure to any losses of worst performing index
|
| Call option: | At par quarterly
|
| Initial levels: | 1,647.99 for MSCI EAFE, 2,051.12 for S&P, 1,113.135 for Russell
|
| Barriers/downside thresholds: | 988.79 for MSCI EAFE, 1,230.67 for S&P, 667.881 for Russell; 60% of initial levels
|
| Pricing date: | May 4
|
| Settlement date: | May 9
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.84%
|
| Cusip: | 90275R497
|
|
|
© 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.
