By Susanna Moon
Chicago, May 19 – UBS AG, London Branch priced $4 million of trigger autocallable contingent yield notes due May 14, 2020 linked to the SPDR S&P Regional Banking exchange-traded 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 8.05% if the fund closes at or above its coupon level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the fund finishes below the 70% trigger level, in which case investors will lose 1% for each 1% decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying fund: | SPDR S&P Regional Banking ETF
|
| Amount: | $4 million
|
| Maturity: | May 14, 2020
|
| Coupon: | 8.05%, payable quarterly if fund closes at or above 70% coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if fund closes at or above initial level on any quarterly observation date after six months
|
| Payout at maturity: | Par unless fund closes below 70% trigger level, in which case 1% loss for each 1% decline
|
| Initial level: | $53.71
|
| Trigger level: | $37.60, 70% of initial level
|
| Pricing date: | May 11
|
| Settlement date: | May 16
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.25%
|
| Cusip: | 90280V400
|
|
|
|
|
© 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.
