New Issue: UBS prices $17.45 million trigger step performance securities linked to S&P 500

By Angela McDaniels

Tacoma, Wash., May 30 - UBS AG, London Branch priced $17.45 million of 0% trigger step performance securities due Nov. 30, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of 18.25% and the index return. Investors will receive par if the index declines by 20% or less and will be fully exposed to the index's decline from its initial level if it declines beyond 20%.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger step performance securities
Underlying index:	S&P 500
Amount:	$17,449,420
Maturity:	Nov. 30, 2016
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus greater of 18.25% and index return if index return is zero or positive; par if index falls by 20% or less; full exposure to losses if index finishes below trigger level
Initial index level:	1,660.06
Trigger level:	1,328.05, 80% of initial level
Pricing date:	May 28
Settlement date:	May 31
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2.75%
Cusip:	90271C395

© 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.