Published on 3/8/2016 in the Prospect News Structured Products Daily.
New Issue: UBS sells $12.75 million trigger phoenix callable notes tied to indexes
By Marisa Wong
Morgantown, W.Va., March 8 – UBS AG, London Branch priced $12.75 million of trigger phoenix callable optimization securities due March 6, 2020 linked to the MSCI EAFE index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 10.55% if each index closes at or above the coupon barrier level – 60% of the initial level – on an observation date for that quarter.
The notes are callable at par plus the contingent coupon on any quarterly observation date.
If the notes are not called, the payout at maturity will be par plus the contingent coupon unless any index finishes below the 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix callable optimization securities
|
| Underlying indexes: | MSCI EAFE, Russell 2000, S&P 500
|
| Amount: | $12,751,000
|
| Maturity: | March 6, 2020
|
| Coupon: | 10.55%, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if each index finishes at or above trigger level; otherwise, par plus return of worst performing index
|
| Call option: | At par plus contingent coupon on any quarterly observation date
|
| Initial levels: | 1,558.17 for MSCI EAFE, 1,033.901 for Russell, 1,932.23 for S&P
|
| Barrier/trigger levels: | 934.90 for MSCI EAFE, 620.341 for Russell, 1,159.34 for S&P; 60% of initial levels
|
| Pricing date: | Feb. 29
|
| Settlement date: | March 3
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.75%
|
| Cusip: | 90275L839
|
|
|
© 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.
