Published on 8/7/2017 in the Prospect News Structured Products Daily.
New Issue: UBS sells $8.04 million trigger autocallable notes on MSCI EM, Russell
By Marisa Wong
Morgantown, W.Va., Aug. 7 – UBS AG, London Branch priced $8.04 million of trigger autocallable contingent yield notes due July 30, 2020 linked to the MSCI Emerging Markets index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.95% if each index’s closing level is at least 70% of its initial level on the observation date for that quarter.
After six months, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date prior to maturity.
If the notes are not called and each index finishes at or above its 70% downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser performing index’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | MSCI Emerging Markets, Russell 2000
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| Amount: | $8,036,140
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| Maturity: | July 30, 2020
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| Coupon: | 7.95% per year, payable quarterly if each index closes at or above its coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser performing index
|
| Call: | After six months, automatically at par if each index closes at or above initial level on any quarterly observation date prior to maturity
|
| Initial levels: | 1,068.95 for MSCI EM, 1,433.624 for Russell
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| Coupon barriers: | 748.27 for MSCI EM, 1,003.537 for Russell; 70% of initial levels
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| Downside thresholds: | 748.27 for MSCI EM, 1,003.537 for Russell; 70% of initial levels
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| Pricing date: | July 27
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| Settlement date: | July 31
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| Agent: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
|
| Cusip: | 90280V798
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