Published on 5/29/2015 in the Prospect News Structured Products Daily.
New Issue: UBS prices $12.04 million trigger phoenix autocallables tied to Euro Stoxx, S&P 500
By Marisa Wong
Madison, Wis., May 29 – UBS AG, London Branch priced $12.04 million of trigger phoenix autocallable optimization securities due May 30, 2025 linked to the worst performing of the Euro Stoxx 50 index and the S&P 500 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 7.38% if each index closes at or above its 70% coupon barrier on an observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial price on any quarterly observation date after one year.
If the notes are not called, the payout at maturity will be par unless any index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying indexes: | Euro Stoxx 50 index, S&P 500 index
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| Amount: | $12,035,250
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| Maturity: | May 30, 2025
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| Coupon: | 7.38% per year, payable quarterly if each index closes at or above its barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, full exposure to decline of worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above its initial level on any quarterly observation date after one year
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| Initial levels: | 3,682.87 for Euro Stoxx, 2,123.48 for S&P
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| Barrier levels: | 2,578.01 for Euro Stoxx, 1,486.44 for S&P; 70% of initial levels
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| Trigger levels: | 1,841.44 for Euro Stoxx, 1,061.74 for S&P; 50% of initial levels
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| Pricing date: | May 27
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| Settlement date: | May 29
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.5%
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| Cusip: | 90274T494
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