By Susanna Moon
Chicago, April 15 - UBS AG, London Branch priced $2.85 million trigger phoenix autocallable optimization securities due April 8, 2024 linked to the Euro Stoxx 50 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its coupon barrier, 70% of its initial level, on a quarterly observation date, the notes will pay a contingent coupon at an annual rate of 7.51% for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date after one year.
A trigger event will occur if either index finishes below its 50% trigger level.
If a trigger event does not occur and each index finishes at or above its respective coupon barrier level, the payout at maturity will be par plus the coupon.
If a trigger event does not occur and either index finishes below its coupon barrier, the payout will be par.
If a trigger event occurs, investors will be fully exposed to losses of the worst performing index.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Euro Stoxx 50 and MSCI Emerging Markets
|
| Amount: | $1,994,900
|
| Maturity: | April 17, 2024
|
| Coupon: | 7.51% per year, payable quarterly if both indexes close at or above their coupon barriers on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, full exposuree to losses of worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date beginning
|
| Initial index levels: | 3,116.54 for Euro Stoxx and 1,015.44 for MSCI Emerging Markets
|
| Coupon barriers: | 2,181.58 for Euro Stoxx and 710.81 for MSCI Emerging Markets; 70% of initial levels
|
| Trigger levels: | 1,558.27 for Euro Stoxx and 507.72 for MSCI Emerging Markets; 50% of initial levels
|
| Pricing date: | April 11
|
| Settlement date: | April 16
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.5%
|
| Cusip: | 90272V715
|
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