By Marisa Wong
Morgantown, W.Va., Dec. 16 – UBS AG, London Branch priced $99,968 of European-style, cash-settled call warrants expiring Dec. 11, 2018 linked to the JPX-Nikkei Index 400, according to a 424B2 filing with the Securities and Exchange Commission.
The 704 warrants have a notional amount of $1,000 each, or $704,000 in total, and sold for $142.00 each, or 14.2% of the notional amount. The minimum purchase requirement is 71 warrants.
The warrants will be automatically exercised on the expiration date if the index’s final level is greater than the initial index level. The cash settlement amount will be the greater of (a) the notional amount per warrant multiplied by the index return and (b) zero. The cash settlement payment date is Dec. 14, 2018.
The index return must be greater than 14.2% for investors to receive a positive return on their initial investments.
If the index’s final level is equal to or less than the initial index level, the warrants will expire worthless and investors will lose their entire initial investments in the warrants.
UBS Investment Bank is the underwriter with J.P. Morgan Securities LLC as agent.
Issuer: | UBS AG, London Branch
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Issue: | Call warrants
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Underlying index: | JPX-Nikkei Index 400
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Warrants: | 704
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Notional amount: | $1,000 each, or $704,000 total
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Price: | $142.00 each, or $99,968 total
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Expiration date: | Dec. 11, 2018
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Cash settlement date: | Dec. 14, 2018
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Payout: | If index’s final level is greater than initial index level, warrants will be automatically exercised and investors will receive greater of (a) notional amount per warrant multiplied by index return and (b) zero; if index’s final level is equal to or less than initial index level, warrants will expire worthless and investors will receive nothing
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Initial index level: | 13,942.97
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Pricing date: | Dec. 11
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Settlement date: | Dec. 16
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Underwriter: | UBS Investment Bank
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Agent: | J.P. Morgan Securities LLC
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Fees: | $6.50 per warrant
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Cusip: | 90275L185
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