Published on 5/19/2017 in the Prospect News Structured Products Daily.
New Issue: UBS sells $7 million trigger autocallable contingent yield notes on S&P, Stoxx
By Wendy Van Sickle
Columbus, Ohio, May 19 – UBS AG, London Branch priced $7 million of trigger autocallable contingent yield notes due May 21, 2027 linked to the S&P 500 index and the Euro Stoxx 50 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 6% if each index closes at or above its coupon level, 60% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one after one year.
The payout at maturity will be par unless either index finishes below the 60% trigger level, in which case investors will lose 1% for each 1% decline 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 autocallable contingent yield notes
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| Underlying indexes: | S&P 500 and Euro Stoxx 20
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| Amount: | $7 million
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| Maturity: | May 21, 2027
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| Coupon: | 6%, payable quarterly if each index closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after one year
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| Payout at maturity: | Par unless either index closes below 60% trigger level, in which case 1% loss for each 1% decline of worse performing index
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| Initial levels: | 2,357.03 for S&P, 3,584.83 for Stoxx
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| Coupon/trigger level: | 1,414.22 for S&P, 2,150.90 for Stoxx, 60% of initial levels
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| Pricing date: | May 17
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| Settlement date: | May 22
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.25%
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| Cusip: | 90280V442
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