Published on 10/5/2017 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.1 million contingent income autocallables linked to indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – UBS AG, London Branch priced $4.1 million contingent income autocallable securities due Oct. 4, 2022 linked to the least performing of the Euro Stoxx 50 index, the MSCI Emerging Markets index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if each index closes at or above its downside threshold level, 75% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par plus the related contingent coupon if each index closes at or above its initial level on any quarterly redemption determination date other than the final determination date.
The payout at maturity will be par unless the final level of any index is less than its downside threshold level, in which case investors will lose 1% for each 1% that the least-performing index declines from its initial level.
UBS Securities LLC and Morgan Stanley Smith Barney LLC are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | MSCI Emerging Markets, Russell 2000 and Euro Stoxx 50
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| Amount: | $4.1 million
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| Maturity: | Oct. 4, 2022
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| Coupon: | 10% per year, payable quarterly if each index closes at or above downside threshold on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below downside threshold level, in which 1% loss for every 1% that least-performing index finishes below initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final one
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| Initial index levels: | 1,081.72 for MSCI EM, 3,594.85 for Stoxx, 1,490.861 for Russell
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| Downside thresholds: | 811.29 for MSCI EM, 2,696.14 for Stoxx, 1,118.146 for Russell; 75% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agents: | UBS Securities LLC and Morgan Stanley Smith Barney LLC
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| Fees: | 3%
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| Cusip: | 90270KMN6
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