Published on 3/13/2017 in the Prospect News Structured Products Daily.
New Issue: UBS prices $102,000 trigger return optimization notes on SPDR S&P Bank
By Marisa Wong
Morgantown, W.Va., March 13 – UBS AG, London Branch priced $102,000 of trigger return optimization securities due March 18, 2019 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus two times the gain, capped at 17.22%.
If the fund return is zero or negative but the fund finishes at or above the 75% trigger level, the payout will be par. Otherwise, investors will share in any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger return optimization securities
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Underlying fund: | SPDR S&P Bank exchange-traded fund
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Amount: | $102,000
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Maturity: | March 18, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus two times any fund gain, capped at 17.22%; par if fund falls by up to 25%; otherwise, exposure to any losses
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Initial share price: | $44.93
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Trigger price: | $33.70, 75% of initial price
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Pricing date: | March 10
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Settlement date: | March 15
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90277R727
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