Published on 12/29/2016 in the Prospect News Structured Products Daily.
New Issue: UBS sells $15.12 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 29 – UBS AG, London Branch priced $15.12 million of trigger autocallable contingent yield notes due Jan. 2, 2020 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 8.22% 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 after six months.
The payout at maturity will be par unless either index finishes below the 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Nasdaq-100 and Russell 2000
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| Amount: | $15,115,680
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| Maturity: | Jan. 2, 2020
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| Coupon: | 8.22%, payable quarterly if each index closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Call: | After six months, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
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| Payout at maturity: | Par unless either index closes below trigger level, in which case 1% loss for each 1% decline of worse performing index
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| Initial levels: | 1,360.825 for Russell and 4,926.286 for Nasdaq
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| Coupon/trigger level: | 952.578 for Russell and 3,448.400 for Nasdaq; 70% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 30
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90280M210
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