Published on 12/1/2014 in the Prospect News Structured Products Daily.
New Issue: UBS prices $8.98 million contingent income autocallables linked to three indexes
By Toni Weeks
San Luis Obispo, Calif., Dec. 1 – UBS AG, London Branch priced $8.98 million of contingent income autocallable securities due Nov. 29, 2019 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 quarterly coupon at an annual rate of 8% if each index closes at or above its 75% barrier level on a determination date for that quarter.
The notes will be redeemed at par plus the contingent coupon if each index closes at or above its respective call threshold level – 95% of its initial level – on any determination date other than the final date.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon unless any index finishes below its 75% barrier level, in which case investors will be fully exposed to the decline of the worst-performing index.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000, Topix
|
| Amount: | $8,982,000
|
| Maturity: | Nov. 29, 2019
|
| Coupon: | 8% per year, payable quarterly if each index closes at or above its barrier level on the determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the final contingent coupon unless any index finishes below its barrier level, in which case full exposure to decline of worst-performing index
|
| Call: | At par plus contingent coupon if each index closes at or above 95% call threshold level on any determination date other than the final date
|
| Initial levels: | 3,226.15 for Euro Stoxx, 1,149.169 for Russell, 1,409.15 for Topix
|
| Call threshold levels: | 3,064.84 for Euro Stoxx, 1,091.711 for Russell, 1,338.69 for Topix; 95% of initial levels
|
| Barrier levels: | 2,419.61 for Euro Stoxx, 861.877 for Russell, 1,056.86 for Topix, 75% of initial levels
|
| Pricing date: | Nov. 25
|
| Settlement date: | Dec.1
|
| Agent: | UBS Securities LLC with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 3%
|
| Cusip: | 90274F189
|
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