Published on 4/25/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $9.49 million contingent income autocallables linked to three indexes
By Jennifer Chiou
New York, April 25 - UBS AG, London Branch priced $9.49 million of contingent income autocallable securities due April 24, 2018 linked to the worst performing of the Euro Stoxx 50 index, the S&P 500 index and the Topix index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its coupon barrier level, 75% of its initial index level, on a quarterly determination date, investors will receive a contingent payment of $0.2125 that quarter, equivalent to 8.5% per year.
The notes will be automatically redeemed at par plus the contingent coupon if all of the indexes close at or above their respective initial levels on any of the first 19 quarterly redemption determination dates.
If the notes are not called and each index finishes at or above its downside threshold level, 50% of its initial level, the payout at maturity will be par plus the final contingent coupon, if any. If any index finishes below its downside threshold level, investors will be fully exposed to the decline of the worst-performing index from its initial level.
UBS Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50, S&P 500 and Topix
|
| Amount: | $9,490,400
|
| Maturity: | April 24, 2018
|
| Contingent payment: | If each index closes at or above coupon barrier level on a quarterly determination date, contingent payment of $0.2125 that quarter, or 8.5% per year
|
| Price: | Par of $10.00
|
| Payout at maturity: | If each index finishes at greater than or equal to downside threshold, par plus final contingent coupon; if any index finishes below downside threshold, exposure to decline of the worst-performing index from its initial level
|
| Call: | Automatically at par plus contingent coupon if all of the indexes close at or above their respective initial levels on any of the first 19 quarterly redemption determination dates
|
| Initial levels: | 2,575.16 for Euro Stoxx 50, 1,555.25 for S&P 500 and 1,126.67 for Topix
|
| Downside threshold: | 50% of initial levels
|
| Coupon barrier: | 75% of initial levels
|
| Pricing date: | April 19
|
| Settlement date: | April 24
|
| Agent: | UBS Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3%
|
| Cusip: | 90271C213
|
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