Published on 12/6/2018 in the Prospect News Structured Products Daily.
New Issue: UBS sells $3 million trigger autocallable contingent yield notes on Dow, Nasdaq
By Sarah Lizee
Olympia, Wash., Dec. 6 – UBS AG, London Branch priced $3 million of trigger autocallable contingent yield notes due Nov. 30, 2028 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
After one year, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100
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Amount: | $3 million
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Maturity: | Nov. 30, 2028
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Coupon: | 8%, payable quarterly if each index closes at or above coupon barrier on observation date
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Price: | Par of $10
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Call: | After one year, at par plus contingent coupon if both indexes close at or above initial levels on any quarterly observation date other than the final one
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Payout at maturity: | Par unless either index closes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
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Initial levels: | 24,640.24 for Dow, 6,678.339 for Nasdaq
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Coupon barriers: | 17,248.17 for Dow, 4,674.837for Nasdaq; 70% of initial levels
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Downside thresholds: | 12,320.12 for Dow, 3,339.170 for Nasdaq; 50% of initial levels
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Pricing date: | Nov. 27
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Settlement date: | Nov. 30
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 3.5%
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Cusip: | 90281B676
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