Published on 8/5/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.03 million contingent income autocallables on two indexes
By Marisa Wong
Madison, Wis., Aug. 5 – UBS AG, London Branch priced $4.03 million of contingent income autocallable securities due Aug. 5, 2019 linked to the worst performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its 75% barrier level on a determination date for that quarter.
The notes will be redeemed at par plus the contingent coupon if each index closes at or above its respective initial level any quarterly determination date other than the final date.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 75% barrier level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Securities LLC is the agent. Morgan Stanley Smith Barney LLC will handle distribution.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000
|
| Amount: | $4,027,000
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| Maturity: | Aug. 5, 2019
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| Coupon: | 8% per year, payable quarterly if each index closes at or above its barrier level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon unless either index falls below barrier level, in which case full exposure to losses of worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above its initial level on any quarterly determination date other than final date
|
| Initial index levels: | 3,115.51 for Euro Stoxx, 1,120.068 for Russell
|
| Barrier levels: | 2,336.63 for Euro Stoxx, 840.051 for Russell; 75% of initial levels
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Agent: | UBS Securities LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 3%
|
| Cusip: | 90273E753
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