Published on 11/14/2016 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.94 million trigger autocallables tied to the Dow, Russell
By Marisa Wong
Morgantown, W.Va., Nov. 14 – UBS AG, London Branch priced $4.94 million of trigger autocallable contingent yield notes due Nov. 15, 2019 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.48% if each index closes at or above its downside threshold level, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below its downside threshold level, in which case investors will be fully exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Dow Jones industrial average and Russell 2000
|
| Amount: | $4,936,350
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| Maturity: | Nov. 15, 2019
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| Coupon: | 7.48%, payable quarterly if indexes close at or above downside thresholds on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
|
| Call: | After six months, automatically at par if indexes close at or above initial levels on any quarterly observation date other than final one
|
| Initial index levels: | 18,847.66 for Dow and 1,282.394 for Russell
|
| Downside thresholds: | 13,193.36 for Dow and 897.676 for Russell 2000; 70% of initial levels
|
| Pricing date: | Nov. 11
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| Settlement date: | Nov. 16
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90275Y740
|
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