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Certificato Express con Barriera su materie prime

Ottimizzazione del rendimento

Sottostante illustrativo: Materie prime

In general, Commodity Conditional Coupon Reverse Convertible (Express Certificate) can provide an attractive payout in stable market conditions. The payout and an early redemption are conditional on the performance of the underlying and may compensate for the risk of being exposed to the downside risk of the underlying.

Factsheet (PDF)

Il profilo di distribuzione ha il solo scopo illustrativo e si basa sull’ipotesi che non si verifichi una cessazione eccezionale in base alla documentazione del prodotto dell’emittente.

Caratteristiche principali di un esempio di prodotto

Currency

USD, cash settled

Term

up to 1 year

Return

15% p.a., payable only in case of an early redemption

Participation

no additional participation

Capital

at risk below strike 100%, subject to barrier 60%

You may consider an investment in this product, if

You look for a way to enhance yield in sideway markets
You are familiar with both structured products and commodity markets
You are comfortable that the product may end early and being exposed to a reinvestment risk
You are comfortable being exposed to the negative performance of the underlying
You do not expect the barrier level of the underlying to be touched or breached (barrier event)
You wish to be invested in the investment currency of the product. If your reference currency is not equal to the investment currency of the product, the return may increase or decrease in reference currency terms as a result of exchange rate fluctuations

Summary of main product-specific benefits

Summary of main product-specific risks

Attractive exit rate for each observation period if redeemed early
Redemption will be 100% of nominal value if barrier is not touched or breached
Early redemption feature provides a cash-out opportunity at regular intervals
Outperforms direct investment in a sideways or slightly positive market

Summary of main product-specific risks

Potential return limited to exit rate payment
No exit rate payment in case of no early redemption event
In the event of an early redemption you might not be able to invest the redemption amount at the same conditions (reinvestment risk)
Redemption linked to the underlying if barrier is touched or breached
If the currency of the product is different from your reference currency, the return may increase or decrease as a result of currency fluctuations
The relatively long tenor increases the likelihood of a barrier event
You are fully exposed to the default risk of the issuer. In the worst case a default of the issuer can lead to a loss of the entire invested capital

Scenario Analysis

Return on investment (ROI) on the redemption date

Assumptions: Underlying Brent Crude Oil, Reference price USD 64.38, Strike level 100%, exit rate 15.00% p.a., 12 month tenor, initial early redemption level 100% with Step Down 1.5% per observation, monthly early redemption observation, barrier level 60%, including Phoenix Feature, *Strike date

a) ROI in the case of an early redemption event

Observation date	Underlying in % of reference price	Redemption	ROI (redemption + exit rate)
Strike date + 1 month	at or above 100% below 100%	Yes No	1.25% (100% + 1.25%) Go to next period
Strike date + 2 months	at or above 98.5% below 98.5%	Yes No	2.5% (100% + 2.5%) Go to next period
Strike date + 3 months	at or above 97% below 97%	Yes No	3.75% (100% + 3.75%) Go to next period
Strike date + 4 months	at or above 95.5% below 95.5%	Yes No	5% (100% + 5%) Go to next period
Strike date + 5 months	at or above 94% below 94%	Yes No	6.25% (100% + 6.25%) Go to next table
Strike date + 6 months	at or above 92.5% below 92.5%	Yes No	7.5% (100% + 7.5%) Go to next table
Strike date + 7 months	at or above 91% below 91%	Yes No	8.75% (100% + 8.75%) Go to next table
Strike date + 8 months	at or above 89.5% below 89.5%	Yes No	10% (100% + 10%) Go to next table
Strike date + 9 months	at or above 88% below 88%	Yes No	11.25% (100% + 11.25%) Go to next table
Strike date + 10 months	at or above 86.5% below 86.5%	Yes No	12.5% (100% + 12.5%) Go to next table
Strike date + 11 months	at or above 85% below 85%	Yes No	13.75% (100% + 13.75%) Go to next table
Strike date + 12 months (expiration date)	at or above 83.5% below 83.5%	Yes No	15% (100% + 15%) Go to next table

Solo a scopi illustrativi. Fonte: UBS

b) ROI in the case of no early redemption event

Observation date	Underlying in % of reference price	ROI (redemption + exit rate) if barrier is touched	ROI (redemption + exit rate) if barrier not touched
Strike date + 12 months (expiration date)	83%	-17.00% (83% + 0%)	15.00% (100% + 15.00%)
	80%	-20.00% (80% + 0%)	15.00% (100% + 15.00%)
	70%	-30.00% (70% + 0%)	15.00% (100% + 15.00%)
	60%	-40% (60% + 0%)	n.a.
	59.5%	-40.50% (59.5% + 0%)	n.a.
	50%	-50.00% (50% + 0%)	n.a.

Solo a scopi illustrativi. Fonte: UBS

Scenario 1: Maximum return

If the underlying closes on any observation date at or above its early redemption levels, the product will redeem early. You receive 100% of the nominal value and an exit rate for each observation period since inception.

Scenario 2: Maximum return at Maturity – Phoenix Feature

If an early redemption event has not occurred and if the barrier is not touched or breached throughout the tenor, you receive 100% of the nominal value and the full exit rate payment for the tenor.

Scenario 3: Full downside risk

There is no protection against falling prices of the underlying if an early redemption event has not occurred and if the barrier is touched or breached. You will be fully exposed to the negative performance of the underlying. In a worst case scenario, the product becomes worthless and you will lose all of the invested capital resulting in a negative return on investment (no capital protection and no exit rate payment).