UBS plans step-down trigger autocallables on Gold Miners ETF

By Wendy Van Sickle

Columbus, Ohio, Feb. 16 – UBS AG, London Branch plans to price 0% step-down trigger autocallable notes due Feb. 28, 2020 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par of $10 plus a call premium – expected to be 9% to 10.6% per year – if the fund closes at or above its call threshold level on any annual observation date. The call threshold level will be equal to the initial fund level for every observation date except for the final observation date, Feb. 24, 2020. For the final observation date, the call threshold level will be 55% of the initial level.

If the notes are not subject to an automatic call, then the final level of the fund will be less than 55% of its initial level, and investors will be exposed to the decline of the fund from its initial level.

UBS Financial Services Inc. and UBS Investment Bank are the underwriters.

The notes will price Feb. 24.

The Cusip number is 90280M665.

© 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.