By William Gullotti
Buffalo, N.Y., May 31 – UBS AG, London Branch priced $1.01 million of trigger autocallable contingent yield notes due May 30, 2024 linked to the performance of SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at the rate of 6.55% per year if the ETF closes at or above its coupon barrier, 60% of its initial level, on any related observation date.
The notes will be automatically called at par plus the coupon if the shares of the ETF close at or above initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the ETF’s initial level or, at the issuer’s option, the cash equivalent.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying fund: | SPDR S&P 500 ETF Trust
|
Amount: | $1,012,000
|
Maturity: | May 30, 2024
|
Coupon: | 6.55% per year, paid quarterly, if the ETF closes at or above its coupon barrier on any related observation date
|
Price: | Par of $1,000
|
Payout at maturity: | Par plus final coupon unless the ETF finishes below downside threshold level, in which case receive 2.5388 shares per note or the cash equivalent
|
Call: | Automatically at par plus coupon if the ETF closes at or above initial level on any quarterly call observation date after six months
|
Initial level: | $393.89
|
Coupon barrier level: | $236.33; 60% of initial level
|
Downside threshold: | $236.33; 60% of initial level
|
Pricing date: | May 24
|
Settlement date: | May 27
|
Agents: | UBS Securities LLC and UBS Investment Bank
|
Fees: | 1.25%
|
Cusip: | 90279FEH0
|
|
|
© 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.