By Wendy Van Sickle
Columbus, Ohio, July 28 – UBS AG, London Branch priced $3.36 million of trigger autocallable contingent yield notes with memory interest due Aug. 1, 2023 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if the shares close at or above the coupon barrier, 65% of the initial share price, on the observation date for that quarter, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 65% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable contingent yield notes with memory interest
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Underlying ETF: | VanEck Vectors Gold Miners ETF
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Amount: | $3,359,000
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Maturity: | Aug. 1, 2023
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Contingent coupon: | 10%, payable quarterly if ETF closes at or above coupon barrier level on related quarterly observation date in which case coupon will also be paid for any previously unpaid quarter
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Price: | Par of $10
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Payout at maturity: | Par unless ETF finishes below downside threshold, in which case 1% loss for each 1% decline from initial price
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Call: | Automatically at par if ETF closes at or above initial price on any quarterly observation date
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Initial price: | $43.84
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Coupon barrier: | $28.50, 65% of initial price
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Downside threshold: | $28.50, 65% of initial price
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Pricing date: | July 27
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Settlement date: | July 30
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.3%
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Cusip: | 90276BEL3
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