UBS to price step-down trigger autocallables linked to S&P, Euro Stoxx

By Marisa Wong

Morgantown, W.Va., Nov. 21 – UBS AG, London Branch plans to price 0% step-down trigger autocallable notes due Nov. 28, 2022 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par of $10 plus a call return of 9% per year if each index closes at or above its call threshold level on any annual observation date. For each index, the call threshold level will be equal to the initial index level for every observation date except for the final observation date, Nov. 21, 2022. For the final observation date, the call threshold level will be 70% of the initial index level.

If the notes are not called, then the final level of at least one index will be less than its 70% downside threshold, and investors will be exposed to the decline of the lesser-performing index from its initial level.

UBS Financial Services Inc. and UBS Investment Bank are the underwriters.

The notes will price Nov. 22.

The Cusip number is 90280X778.

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