New York, Sept. 16 – UBS AG, London Branch priced $100,000 of 0% airbag return optimization securities due Sept. 24, 2018 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above the initial price, the payout at maturity will be par plus two times any fund gain, capped at 12.67%.
If the fund declines but ends above 85% of its initial price, the payout will par.
Otherwise, investors will receive a number of ETF shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank is the agent.
Issuer: | UBS AG, London Branch
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Issue: | Airbag return optimization securities
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Underlying ETF: | SPDR S&P 500 ETF Trust
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Amount: | $100,000
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Maturity: | Sept. 24, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus two times any fund gain, capped at 12.67%; if fund declines but closes at or above 85% of its initial price the payout will par; otherwise a number of ETF shares equal to $1,000 divided by conversion price
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Initial share price: | $213.37
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Conversion price: | $181.36, 85% of initial price
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Pricing date: | Sept. 16
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Settlement date: | Sept. 21
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1%
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Cusip: | 90279M304
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