By Susanna Moon
Chicago, Aug. 18 – UBS AG, London Branch priced $1.55 million of phoenix autocallable notes with memory interest due Aug. 17, 2018 linked to the S&P GSCI Crude Oil Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the barrier level – 65% of the initial level – on a quarterly observation date, the notes will pay a contingent coupon for that quarter at the rate of 12%, plus any previously unpaid contingent interest payments.
If the index closes at or above the initial level on a quarterly observation date, the notes will be called at par plus the contingent coupon and any previously unpaid contingent interest payments.
If the notes are not called and the index finishes at or above the 65% trigger level, the payout at maturity will be par plus the contingent coupon and any previously unpaid coupons.
Otherwise, investors will be fully exposed to any losses.
UBS Investment Bank is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Phoenix autocallable notes with memory interest
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| Underlying index: | S&P GSCI Crude Oil Excess Return index
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| Amount: | $1,545,000
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| Maturity: | Aug. 17, 2018
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| Coupon: | 12%, plus any previously unpaid coupons, if index closes at or above barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon and previously unpaid coupons if index finishes at or above trigger level; otherwise, par plus index return, with full exposure to losses
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| Call: | At par plus contingent coupon and previously unpaid coupons if index closes at or above initial level on a quarterly observation date
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| Initial level: | 204.824
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| Barrier level: | 133.1356, 65% of initial level
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| Pricing date: | Aug. 14
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| Settlement date: | Aug. 19
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| Underwriter: | UBS Investment Bank
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 2%
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| Cusip: | 90270KFR5
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