By Wendy Van Sickle
Columbus, Ohio, June 12 – UBS AG, London Branch priced $20 million of 7.65% buffered income autocallable securities with downside leverage due June 15, 2021 linked to the worst performing of the SPDR Dow Jones Industrial Average ETF Trust and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus the coupon if the shares of the least-performing ETF close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price of the least-performing ETF is greater than or equal to the downside threshold level, 80% of the initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive shares of the least-peforming underlying fund equal to the quotient of the stated principal amount divided by the downside threshold level.
UBS Securities LLC is the agent, and Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
|
| Issue: | Buffered income autocallable securities with downside leverage
|
| Underlying ETFs: | SPDR Dow Jones Industrial Average ETF Trust and SPDR S&P 500 ETF Trust
|
| Amount: | $20 million
|
| Maturity: | June 15, 2021
|
| Coupon: | 7.65% per year, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If the final share price of least-performing ETF is greater than or equal to the downside threshold level, par plus the final coupon; otherwise, shares of least-performing underlying fund
|
| Call: | At par plus coupon if shares close at or above initial share price on any quarterly determination date other than final determination date
|
| Initial share price: | $270.46 for Dow, $319.00 for S&P
|
| Downside threshold: | $216.37 for Dow, $255.20 for S&P, 80% of initial share price
|
| Pricing date: | June 10
|
| Settlement date: | June 15
|
| Agent: | UBS Securities LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 0.2%
|
| Cusip: | 90276BDS9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
