Published on 6/28/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.42 million trigger phoenix autocallables linked to Euro Stoxx, S&P 500
By Jennifer Chiou
New York, June 28 - UBS AG, London Branch priced $4,416,500 of 0% trigger phoenix autocallable optimization securities due June 29, 2018 linked to the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its trigger level, 64% of its initial level, on any quarterly observation date, the issuer will pay an annualized contingent coupon of 8%. Otherwise, no coupon will be paid for that quarter.
If each index closes at or above its initial level on any observation date after one year, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and either index finishes below its trigger level, investors will be exposed to the decline of the lowest-performing index. Otherwise, the payout at maturity will be par plus the contingent coupon.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Euro Stoxx 50 and S&P 500
|
| Amount: | $4,416,500
|
| Maturity: | June 29, 2018
|
| Coupon: | 8% per year, payable quarterly if both indexes close at or above trigger price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if both indexes finish at or above trigger level; otherwise, full exposure to decline of lowest-performing index
|
| Call: | Beginning one year after issuance, automatically at par plus contingent coupon if each index closes at or above initial level on a quarterly observation date
|
| Initial index levels: | 2,602.81 for Euro Stoxx 50 and 1,603.26 for S&P 500
|
| Trigger levels: | 1,665.80 for Euro Stoxx 50 and 1,026.09 for S&P 500; 64% of initial levels
|
| Pricing date: | June 26
|
| Settlement date: | June 28
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.5%
|
| Cusip: | 90271L130
|
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