Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers U > Headlines for UBS AG, London Branch > News item |
UBS to price contingent income autocallables linked to three indexes
By Angela McDaniels
Tacoma, Wash., June 24 – UBS AG, London Branch plans to price contingent income autocallable securities due July 6, 2021 linked to the worst performing of the Euro Stoxx 50 index, the Nikkei 225 index and the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9% if each index closes at or above its coupon barrier level, 75% of its initial level, on the determination date for that quarter.
The notes will be redeemed at par plus the contingent coupon if each index closes at or above its initial level on any of the first 27 quarterly redemption determination dates.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon, if any, unless any index finishes below its downside threshold level, 55% of its initial level, in which case investors will be fully exposed to the decline of the worst-performing index.
UBS Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
The notes are expected to price June 30 and settle July 3.
The Cusip number is 90273E175.
© 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.