Published on 5/3/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $8.85 million contingent income autocallables linked to three indexes
By Susanna Moon
Chicago, May 3 - UBS AG, London Branch priced $8.85 million of contingent income autocallable securities due May 3, 2018 linked to the worst performing of the Euro Stoxx 50 index, MSCI Emerging Markets index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent payment at an annualized rate of 9% for each quarter that each index closes at or above its 75% coupon barrier level on a quarterly determination date.
The notes will be redeemed at par plus the contingent coupon if each index closes at or above it respective initial level on any of the first 19 quarterly redemption determination dates.
The payout at maturity will be par plus the final contingent coupon unless any index finishes below its 57% downside threshold level, in which case investors will be fully exposed to any losses.
UBS Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50, MSCI Emerging Markets and S&P 500
|
| Amount: | $8,850,200
|
| Maturity: | May 3, 2018
|
| Contingent payment: | 9% annualized if each index closes at or above coupon barrier level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If each index finishes at or above downside threshold, par plus final contingent coupon; otherwise, full exposure to losses of worst performing index
|
| Call: | At par plus contingent coupon if indexes close at or above their respective initial levels on any of the first 19 quarterly redemption determination dates
|
| Initial levels: | 2,712 for Euro Stoxx, 1,039.45 for EM fund and 1,597.57 for S&P
|
| Coupon barrier: | 75% of initial levels
|
| Downside threshold: | 57% of initial levels
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Agent: | UBS Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3%
|
| Cusip: | 90271C288
|
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