Chicago, Feb. 29 – UBS AG, London Branch priced $5.32 million of 0% step-down trigger autocallable notes due Feb. 25, 2027 linked to the least performing of the VanEck Oil Services ETF and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
After six months, the notes will be automatically called at par plus 18.25% per year if each ETF closes at or above its call level on any quarterly observation date. The call level starts as the initial level. It steps down to 95% of the initial level on May 22, 2025 and again to 90% on May 22, 2026.
The maturity date premium is 54.75%.
If the notes are not subject to an automatic call, that means the final level of at least one ETF will be less than its call level, 90% of its initial level. If the worst performer finishes between 60% and 90% of its initial level, the payout at maturity will be par.
Otherwise, investors will be exposed to the decline of the lesser-performing ETF from its initial level.
UBS Financial Services Inc. and UBS Securities LLC are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Step-down trigger autocallable notes
|
| Underlying ETFs: | VanEck Oil Services ETF and Utilities Select Sector SPDR Fund
|
| Amount: | $5,317,000
|
| Maturity: | Feb. 25, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 54.75% if called; par if worst performer finishes between 60% and 90% of initial level; otherwise, full exposure to losses of worst performer
|
| Call: | After six months, at par plus 18.25% per year if each ETF closes at or above its call level on any quarterly observation date, call level starts at initial level and reduces to 95% on May 22, 2025 and to 90% on May 22, 2026
|
| Initial levels: | $302.37 for oil, $61.52 for utilities
|
| Downside thresholds: | $181.42 for oil, $36.91 for utilities, 60% of initial levels
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 27
|
| Agents: | UBS Financial Services Inc. and UBS Securities LLC
|
| Fees: | 2%
|
| Cusip: | 90279W5P5
|
|
|
© 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.
