By Susanna Moon
Chicago, Jan. 14 – UBS AG, London Branch priced $25.11 million of trigger phoenix autocallable optimization securities due Jan. 12, 2018 linked to the SPDR S&P 500 exchange-traded fund trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the fund closes at or above the trigger level – 75.32% of the initial level – 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 the initial price on a quarterly observation date.
The payout at maturity will be par plus the contingent coupon unless the fund finishes below the trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying fund: | SPDR S&P 500 ETF trust
|
| Amount: | $25,111,190
|
| Maturity: | Jan. 12, 2018
|
| Coupon: | 8%, payable quarterly if fund closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if fund finishes at or above trigger price; otherwise, par plus fund return
|
| Call: | At par plus contingent coupon if fund closes at or above initial price on a quarterly observation date
|
| Initial level: | $191.95
|
| Trigger level: | $144.58, 75.32% of initial price
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 13
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90275L383
|
|
|
|
|
© 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.
