By Marisa Wong
Madison, Wis., May 22 - UBS AG, London Branch priced $1 million of trigger phoenix autocallable notes due May 28, 2024 linked to the least performing of the Euro Stoxx 50 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its coupon barrier, 70% of its initial level, on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 7.85% per year. Otherwise, no coupon will be paid that quarter.
Beginning one year after issuance, the notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on a quarterly observation date.
If the notes are not called and each index finishes at or above its trigger level, 50% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the decline of the worst-performing index from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable notes
|
| Underlying indexes: | Euro Stoxx 50 and MSCI Emerging Markets
|
| Amount: | $1 million
|
| Maturity: | May 28, 2024
|
| Coupon: | If each index closes at or above coupon barrier level on quarterly observation date, coupon paid that quarter at rate of 7.85% per year
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par plus contingent coupon; otherwise, full exposure to decline of worst-performing index from initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date beginning one year after issuance
|
| Initial levels: | 3,163.93 for Euro Stoxx and 1,029.91 for MSCI EM
|
| Coupon barriers: | 2,214.75 for Euro Stoxx and 720.94 for MSCI EM; 70% of initial levels
|
| Trigger levels: | 1,581.97 for Euro Stoxx and 514.96 for MSCI EM; 50% of initial levels
|
| Pricing date: | May 20
|
| Settlement date: | May 27
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90272X505
|
© 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.
