By Susanna Moon
Chicago, March 2 – UBS AG, London Branch priced $5.64 million of trigger phoenix autocallable optimization securities due March 2, 2018 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7.8% if the fund closes at or above the coupon barrier level – 75% of the initial price – on an observation date for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the contingent coupon unless the fund finishes below the 75% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying fund: | SPDR S&P 500 ETF Trust
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| Amount: | $5,644,100
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| Maturity: | March 2, 2018
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| Coupon: | 7.8%, payable quarterly if fund closes at or above 75% 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 plus contingent coupon if fund finishes at or above trigger level; otherwise, par plus return
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| Call: | At par plus contingent coupon if fund closes at or above initial level on a quarterly observation date
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| Initial level: | $195.55
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| Trigger level: | $146.66, 75% of initial level
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 29
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90275N702
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