New Issue: UBS sells $1.46 million trigger autocallable contingent yield notes on S&P, ETFs

By William Gullotti

Buffalo, N.Y., Feb. 15 – UBS AG, London Branch priced $1.46 million of trigger autocallable contingent yield notes Feb. 13, 2029 linked to the performance of the SPDR S&P Regional Banking ETF, the S&P 500 index and the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon at the rate of 11.3% per year if each underlier closes at or above its coupon barrier, 70% of its initial level, on the related observation date.

The notes will be automatically called at par plus coupon if each underlier closes at or above its initial level on any monthly call observation date after one year.

If the notes are not called and the final level of each underlier is greater than or equal to its coupon barrier, the payout at maturity will be par plus the final coupon.

If the worst performer finishes below its coupon barrier but at or above the downside threshold level, 60% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying assets:	SPDR S&P Regional Banking ETF, S&P 500 index, Energy Select Sector SPDR Fund
Amount:	$1,458,000
Maturity:	Feb. 13, 2029
Coupon:	11.3% per year, paid monthly, if each underlier closes at or above its coupon barrier on the related observation date
Price:	Par
Payout at maturity:	Par plus final coupon if each underlier finishes at or above coupon barrier; if worst performer finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
Call:	Automatically at par plus coupon if each underlier closes at or above initial level on any monthly call observation date after one year
Initial levels:	$47.04 for Banking ETF, 4,997.91 for S&P, $84.61 for Energy ETF
Coupon barrier levels:	$32.93 for Banking ETF, 3,498.54 for S&P, $59.23 for Energy ETF; 70% of initial levels
Downside thresholds:	$28.22 for Banking ETF, 2,998.75 for S&P, $50.77 for Energy ETF; 60% of initial levels
Pricing date:	Feb. 8
Settlement date:	Feb. 13
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	3.625%
Cusip:	90279W3E2

© 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.