UBS plans trigger phoenix autocallables linked to Euro Stoxx, S&P 500

By Angela McDaniels

Tacoma, Wash., June 3 – UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due June 18, 2020 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 7% to 7.5% per year and will be set at pricing.

Beginning one year after issuance, the notes will be called at par of $10 if each index closes at or above its initial level on any quarterly observation date.

If the notes are not called and each index finishes at or above its 65% trigger level, the payout at maturity will be par plus the final contingent coupon, if any. Otherwise, investors will be fully exposed to the decline of the least-performing index.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

The notes will price June 12 and settle June 17.

The Cusip number is 90274T643.

© 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.