Published on 6/10/2016 in the Prospect News Structured Products Daily.
New Issue: UBS prices $16.78 million trigger callable contingent yield notes on three indexes
New York, June 10 – UBS AG, London Branch priced $16.78 million of trigger callable contingent yield notes due Sept. 15, 2020 linked to the worst performing of the MSCI EAFE index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9% if each index closes at or above 60% of its initial level on the observation date for that quarter.
The notes will be callable at par of $10 on any quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its 60% downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | MSCI EAFE index, Russell 2000 index and S&P 500 index
|
| Amount: | $16.78 million
|
| Maturity: | Sept. 15, 2020
|
| Coupon: | 9% per year, payable on a quarter if each index closes at or above its barrier level on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below downside threshold, in which case full exposure to any losses of worst performing index
|
| Call option: | At par quarterly
|
| Initial levels: | 1,693.07 for MSCI EAFE, 2,112.13 for S&P, 1,179.973 for Russell
|
| Barriers/downside thresholds: | 1,015.84 for MSCI EAFE, 1,267.28 for S&P, 707.984 for Russell; 60% of initial levels
|
| Pricing date: | June 7
|
| Settlement date: | June 10
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.7%
|
| Cusip: | 90275R711
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