Published on 7/2/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $6.75 million contingent income autocallables linked to Euro Stoxx, S&P 500
By Jennifer Chiou
New York, July 2 - UBS AG, London Branch priced $6,749,500 of contingent income autocallable securities due July 1, 2016 linked to the worst performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
If each index closes at or above its coupon barrier level, 75% of its initial index level, on a quarterly determination date, the notes will pay a contingent payment at an annualized rate of 8% for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above the respective initial level on any of the first 11 quarterly redemption determination dates.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its downside threshold level, also 75% of its initial level, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Securities LLC is the agent with Morgan Stanley Smith Barney LLC as distributor.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50 and S&P 500
|
| Amount: | $6,749,500
|
| Maturity: | July 1, 2016
|
| Coupon: | 8% 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
|
| Initial levels: | 2,602.59 for Euro Stoxx, 1,606.28 for S&P 500
|
| Coupon barrier levels: | 1,951.94 for Euro Stoxx, 1,204.71 for S&P 500, 70% of initial share price
|
| Call: | At par plus contingent payment if each index closes at or above initial level on any of the first 11 quarterly redemption determination dates
|
| Pricing date: | June 28
|
| Settlement date: | July 3
|
| Agent: | UBS Securities LLC with Morgan Stanley Smith Barney LLC
|
| Fees: | 2.25%
|
| Cusip: | 90271C841
|
© 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.
