Published on 3/8/2018 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.15 million 6% contingent yield callables on indexes
By Susanna Moon
Chicago, March 8 – UBS AG, London Branch priced $5.15 million of callable contingent coupon notes due Feb. 21, 2023 linked to the least performing of the MSCI EAFE index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6% if each index closes at or above its 55% coupon barrier on each day during that quarter.
The notes are callable at par on any quarterly determination date after one year.
The payout at maturity will be par unless any index finishes below its 55% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable contingent yield notes
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Underlying assets: | MSCI EAFE, Russell 2000 and S&P 500
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Amount: | $5.15 million
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Maturity: | Feb. 21, 2023
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Coupon: | 6% annualized, payable quarterly if each index closes at or above 55% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above 55% downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
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Call option: | At par on any quarterly determination date after one year
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Initial levels: | 2,075.67 for MSCI EAFE, 1,543.551 for Russell and 2,732.22 for S&P
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Coupon barriers: | 1,452.97 for MSCI EAFE, 1,080.486 for Russell and 1,912.55 for S&P, 70% of initial levels
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Trigger levels: | 1,245.40 for MSCI EAFE, 926.131 for Russell and 1,639.33 for S&P, 60% of initial levels
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Pricing date: | Feb. 16
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Settlement date: | Feb. 22
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 3.5%
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Cusip: | 90280Y453
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