By William Gullotti
Buffalo, N.Y., Aug. 11 – UBS AG, London Branch priced $1.35 million of trigger callable contingent yield notes due Aug. 7, 2025 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15% if the ETF’s closing level is at least 75.5% of its initial level on the relevant observation date.
The notes will be callable at par plus any coupon due on any quarterly observation date after six months.
If the notes are not called and the ETF finishes at or above its 75.5% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will receive a number of shares per note equal to $1,000 divided by the ETF’s initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying fund: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1,348,000
|
| Maturity: | Aug. 7, 2025
|
| Coupon: | 15% per year, payable quarterly if the ETF closes at or above its coupon barrier level on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if the ETF finishes at or above trigger level; otherwise, receive 34.153 shares per note
|
| Call option: | At par plus any coupon due on any quarterly observation date after six months
|
| Initial level: | $29.28
|
| Coupon barrier level: | $22.11; 75.5% of initial level
|
| Trigger level: | $22.11; 75.5% of initial level
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 7
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.75%
|
| Cusip: | 90279GP94
|
|
|
© 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.
