Published on 11/18/2015 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.52 million contingent income autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., Nov. 18 – UBS AG, London Branch priced $3.52 million of contingent income autocallable securities due Nov. 21, 2022 linked to the worst performing of the Euro Stoxx 50 index, the Nikkei 225 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10% if each index closes at or above its coupon barrier level, 75% of its initial index level, on the determination date for that quarter.
The notes will be automatically called at par of $10 plus the contingent coupon if each index closes at or above its initial index level on any quarterly determination date other than the final one.
If each index finishes at or above its downside threshold level, 55% of its initial index level, the payout at maturity will be par plus the final contingent coupon, if applicable. If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the least-performing index.
UBS Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50, Nikkei 225 and Russell 2000
|
| Amount: | $3,522,510
|
| Maturity: | Nov. 21, 2022
|
| Coupon: | 10% per year, payable quarterly if each index closes at or above its coupon barrier level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par plus final contingent coupon, if any; if final level of any index is less than downside threshold level, full exposure to decline of lowest-performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly determination date other than final one
|
| Initial index levels: | 1,156.083 for Russell 2000, 3,362.23 for Euro Stoxx 50 and 19,393.69 for Nikkei 225
|
| Coupon barriers: | 867.062 for Russell 2000, 2,521.67 for Euro Stoxx 50 and 14,545.27 for Nikkei 225; 75% of initial index levels
|
| Downside threshold: | 635.846 for Russell 2000, 1,849.23 for Euro Stoxx 50 and 10,666.53 for Nikkei 225; 55% of initial index levels
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 19
|
| Agent: | UBS Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3.5%
|
| Cusip: | 90275G657
|
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