Published on 8/10/2017 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.77 million contingent income autocallables linked to indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 10 – UBS AG, London Branch priced $3.77 million of contingent income autocallable securities due Aug. 5, 2020 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.2% if each index closes at or above its coupon barrier, 80% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date other than the first and final ones.
The payout at maturity will be par unless the final level of any index is less than its downside threshold level, 70% of its initial level, in which case investors will be fully exposed to the decline of the worst-performing index.
UBS Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | S&P 500, Russell 2000 and Nasdaq-100
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| Amount: | $3,773,000
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| Maturity: | Aug. 5, 2020
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| Coupon: | Each quarter, notes pay contingent coupon at an annual rate of 7.2% if each index closes at or above coupon barrier level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold level, par; if final level of any index is less than downside threshold level, full exposure to decline of worst-performing index
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| Call: | Automatically at par if each index closes at or above its initial level on any quarterly determination date other than first and final ones
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| Initial index levels: | 1,425.144 for Russell 2000, 5,880.327 for Nasdaq and 2,470.30 for S&P
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| Coupon barriers: | 1,140.115 for Russell 2000, 4,704.262 for Nasdaq and 1,976.24 for S&P, or 80% of initial levels
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| Downside thresholds: | 997.601 for Russell 2000, 4,116.229 for Nasdaq and 1,729.21 for S&P, or 70% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Agent: | UBS Securities LLC
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| Distribution: | Morgan Stanley Smith Barney LLC
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| Fees: | 2.5%
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| Cusip: | 90270KLR8
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