UBS to price step-down trigger autocallables linked to Russell, S&P

By Wendy Van Sickle

Columbus, Ohio, Dec. 16 – UBS AG, London Branch plans to price 0% step-down trigger autocallable notes due Dec. 30, 2021 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par of $10 plus a call premium – expected to be 7.1% to 8.1% per year – if each index closes at or above its call threshold level on any annual observation date. For each index, the call threshold level will be equal to the initial index level for every observation date except for the final observation date, Dec. 23, 2021. For the final observation date, the call threshold levels will be 60% of the indexes’ respective initial index levels.

If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold, 60% of its initial level, and investors will be exposed to the decline of the lesser-performing index from its initial level.

UBS Financial Services Inc. and UBS Investment Bank are the underwriters.

The notes will price Dec. 28.

The Cusip number is 90280M301.

© 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.