Published on 6/4/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $6.85 million contingent income autocallables linked to three indexes
By Susanna Moon
Chicago, June 4 - UBS AG, London Branch priced $6.85 million contingent income autocallable securities due May 18, 2018 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the Topix index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent payment at an annualized rate of 10% per quarter that each index closes at or above its 75% coupon barrier level on a quarterly determination date.
The notes will be called at par plus the contingent payment if each index closes at or above its initial level on any quarterly redemption determination date.
The payout at maturity will be par plus the final contingent payment unless any index finishes below its 50% downside threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
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, Russell 2000 and Topix
|
| Amount: | $6,845,300
|
| Maturity: | June 4, 2018
|
| Coupon: | 10% annualized for each quarter that each index closes at or above coupon barrier level on quarterly determination date
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par plus final contingent payment; otherwise, full exposure to losses of worst performing index
|
| Call: | At par plus contingent payment if each index closes at or above initial level on any of the first 19 quarterly redemption determination dates
|
| Initial index levels: | 2,799.20 for Euro Stoxx, 994.43 for Russell and 1,134.42 for Topix
|
| Coupon barrier levels: | 2,099.40 for Euro Stoxx, 745.82 for Russell and 850.82 for Topix; 75% of initial levels
|
| Downside thresholds: | 1,399.60 for Euro Stoxx, 497.22 for Russell and 567.21 for Topix; 50% of initial levels
|
| Pricing date: | May 30
|
| Settlement date: | June 4
|
| Agent: | UBS Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3%
|
| Cusip: | 90271C627
|
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