New Issue: UBS sells $33,000 trigger autocallable contingent yield notes on ETFs

By Wendy Van Sickle

Columbus, Ohio, April 3 – UBS AG, London Branch priced $33,000 of trigger autocallable contingent yield notes due March 31, 2025 linked to the lesser performing of the SPDR S&P Metals & Mining ETF, the Consumer Discretionary Select Sector SPDR fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11.5% if each ETF closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.

The notes will be called at par if each ETF closes at or above its initial level on any quarterly observation date after six months.

The payout at maturity will be par unless any ETF finishes below the 60% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing ETF.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying ETFs:	SPDR S&P Metals & Mining ETF, Consumer Discretionary Select Sector SPDR fund and Technology Select Sector SPDR fund
Amount:	$33,000
Maturity:	March 31, 2025
Coupon:	11.5%, payable quarterly if each ETF closes at or above coupon barrier on observation date
Price:	Par
Call:	At par plus contingent coupon if all ETFs close at or above initial levels on any quarterly observation date after six months
Payout at maturity:	Par unless any ETF closes below downside threshold, in which case 1% loss for each 1% decline of worst performing ETF
Initial levels:	$16.54 for metals ETF, $82.31 for tech ETF, $101.45 for consumer discretionary ETF
Coupon barriers:	$11.58 for metals ETF, $57.62 for tech ETF, $71.02 for consumer discretionary ETF; 70% of initial levels
Downside thresholds:	$9.92 for metals ETF, $49.39 for tech ETF, $60.87 for consumer discretionary ETF; 60% of initial levels
Pricing date:	March 26
Settlement date:	March 31
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	3.25%
Cusip:	90270K5P0

© 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.