Published on 8/3/2015 in the Prospect News Structured Products Daily.
New Issue: UBS prices $12.17 million trigger phoenix autocallables linked to Euro Stoxx 50, S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 3 – UBS AG, London Branch priced $12.17 million of trigger phoenix autocallable optimization securities due July 31, 2025 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.55% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
Beginning one year after issuance, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and each index finishes at or above its 50% trigger level, the payout at maturity will be par plus the final contingent coupon, if any. Otherwise, investors will be exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Euro Stoxx 50 and S&P 500
|
| Amount: | $12,169,600
|
| Maturity: | July 31, 2025
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| Coupon: | 7.55% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon, if any, if each index finishes at or above trigger level; otherwise, full exposure to decline of lesser-performing index
|
| Call option: | At par plus contingent coupon, if any, on any quarterly observation date after one year
|
| Initial index levels: | 3,575.53 for Euro Stoxx 50 and 2,108.57 for S&P 500
|
| Coupon barrier levels: | 2,502.87 for Euro Stoxx 50 and 1,476.00 for S&P 500; 70% of initial levels
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| Trigger levels: | 1,787.77 for Euro Stoxx 50 and 1,054.29 for S&P 500; 50% of initial levels
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| Pricing date: | July 29
|
| Settlement date: | July 31
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.5%
|
| Cusip: | 90275C417
|
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