By Sarah Lizee
Olympia, Wash., Aug. 19 – UBS AG, London Branch priced $5 million of trigger autocallable contingent yield notes due Aug. 18, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6% per year the index closes at or above the coupon barrier level, 70% of the initial level, on the observation date for that quarter.
After one year, the notes will be automatically called at par of $10 if the index closes at or above the initial level on any observation date other than the final one.
If the notes are not called and the final level is greater than or equal to the downside threshold level, 70% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
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 index: | S&P 500 index
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Amount: | $5 million
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Maturity: | Aug. 18, 2022
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Contingent coupon: | 6%, payable quarterly if 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 unless index finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
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Call: | After one year, automatically at par if index closes at or above initial level on any quarterly observation date other than the final one
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Initial level: | 2,840.60
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Coupon barrier: | 1,988.42, 80% of initial price
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Downside threshold: | 1,988.42, 80% of initial price
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Pricing date: | Aug. 15
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Settlement date: | Aug. 20
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.4%
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Cusip: | 90281E126
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