Published on 2/10/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.83 million trigger phoenix autocallables linked to Euro Stoxx, S&P 500
By Susanna Moon
Chicago, Feb. 10 - UBS AG, London Branch priced $2.83 million of trigger phoenix autocallable optimization securities due Feb. 13, 2024 linked to the Euro Stoxx 50 index and the S&P 500 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 7.3% 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 of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and each index finishes at or above its trigger level, 50% of its initial level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Euro Stoxx 50 and S&P 500
|
| Amount: | $2,825,100
|
| Maturity: | Feb. 13, 2024
|
| Coupon: | 7.3% per year, payable quarterly if each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par plus contingent coupon; otherwise, full exposure to any losses of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after one year
|
| Initial index levels: | 3,038.49 for Euro Stoxx and 1,797.02 for S&P
|
| Coupon barriers: | 2,126.94 for Euro Stoxx and 1,257.91 for S&P, 70% of initial levels
|
| Trigger levels: | 1,519.25 for Euro Stoxx and 898.51 for S&P, 50% of initial levels
|
| Pricing date: | Feb. 7
|
| Settlement date: | Feb. 12
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.5%
|
| Cusip: | 90271T661
|
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