By Angela McDaniels
Tacoma, Wash., May 21 – UBS AG, London Branch priced $8.91 million of trigger autocallable contingent yield notes due May 20, 2020 linked to the relevant nearby ICE-traded Brent crude oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 15.35% per year if Brent crude oil closes at or above the downside threshold level, 75% of the initial price, on the observation date for that quarter.
The notes will be automatically called at par of $10 if Brent crude oil closes at or above the initial price on any quarterly observation date.
If the notes are not called and the final price of Brent crude oil is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final price is less than the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying commodity: | Brent crude oil
|
| Amount: | $8,906,500
|
| Maturity: | May 20, 2020
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 15.35% per year if Brent crude oil closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If notes are not called and final price is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that final price is less than initial price
|
| Call: | Automatically at par if Brent crude oil closes at or above initial price on any quarterly observation date
|
| Initial futures price: | $72.21
|
| Downside threshold: | $54.16, 75% of initial price
|
| Pricing date: | May 17
|
| Settlement date: | May 21
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90281D276
|
© 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.
