By Jennifer Chiou
New York, Jan. 13 – UBS AG, London Branch priced $1.26 million of phoenix autocallable notes with memory interest due Jan. 12, 2018 linked to the S&P GSCI Crude Oil Excess Return Index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay an annualized contingent interest payment of 10%, plus any previously unpaid contingent interest payments, if the index closes at or above the interest barrier, 55% of the initial level, on any quarterly review date.
If the index closes at or above the initial level on any quarterly autocall review date, the notes will automatically be called at par plus the contingent payment, plus any previously unpaid contingent interest payments.
If the notes are not called and the final index level is equal to or greater than the trigger level, 55% of the initial level, the payout at maturity will be par. If the final index level is less than the trigger level, investors will be fully exposed to the decline in the index.
The final index level will be the average of the closing index levels on the five trading dates ending Jan. 9, 2018.
UBS Investment Bank is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as placement agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Phoenix autocallable notes with memory interest
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| Underlying index: | S&P GSCI Crude Oil Excess Return
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| Amount: | $1.26 million
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| Maturity: | Jan. 12, 2018
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| Contingent coupon: | 10%, plus any previously unpaid contingent interest payments, if the index closes at or above the interest barrier on any quarterly review date
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| Price: | Par
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| Payout at maturity: | If index falls by up to 45%, par; if index falls by more than 45%, investors will be fully exposed to any losses
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| Call: | Automatically at par plus contingent payment, plus any previously unpaid contingent interest payments, if index closes at or above the initial level on any quarterly autocall review date
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| Initial level: | 266.3578
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| Trigger level: | 146.4968, 55% of initial level
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| Pricing date: | Jan. 9
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| Settlement date: | Jan. 14
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| Underwriter: | UBS Investment Bank
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 2%
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| Cusip: | 90270KED7
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