Published on 3/2/2016 in the Prospect News Structured Products Daily.
New Issue: UBS prices $7.74 million trigger phoenix autocallables linked to MSCI EAFE, S&P 500
By Susanna Moon
Chicago, March 2 – UBS AG, London Branch priced $7.74 million of trigger phoenix autocallable optimization securities due Feb. 27, 2026 linked to the MSCI EAFE 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 annualized rate of 8.87% if each index closes at or above the coupon barrier level – 70% of the initial level – on an observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the contingent coupon unless either index finishes below the 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying indexes: | MSCI EAFE, S&P 500
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| Amount: | $7,744,600
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| Maturity: | Feb. 27, 2026
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| Coupon: | 8.87%, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if each index finishes at or above trigger level; otherwise, par plus return of worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on a quarterly observation date after one year
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| Initial levels: | 1,554.15 for MSCI EAFE, 1,951.70 for S&P
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| Coupon barriers: | 1,087.91 for MSCI EAFE, 1,366.19 for S&P; 70% of initial levels
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| Trigger levels: | 777.08 for MSCI EAFE, 975.85 for S&P; 50% of initial levels
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 29
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.5%
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| Cusip: | 90275L748
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