Published on 3/16/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $300,000 trigger return optimization securities on SPDR S&P 500 ETF
By Sarah Lizee
Olympia, Wash., March 16 – UBS AG, London Branch priced $300,000 of trigger return optimization securities due March 13, 2025 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF closes at or above the initial price, the payout at maturity will be par plus 1.5 times any gain in the ETF capped at 54.32%.
If the ETF falls by up to 40%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the ETF.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger return optimization securities
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Underlying ETF: | SPDR S&P 500 ETF Trust
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Amount: | $300,000
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Maturity: | March 13, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the ETF closes at or above the initial price, par plus 1.5 times any gain in the ETF capped at 54.32%; if the ETF falls by up to 40%, par; otherwise, investors will be fully exposed to the decline of the ETF
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Initial share price: | $274.23
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Trigger level: | $164.54, 60% of initial level
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Pricing date: | March 9
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Settlement date: | March 11
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.5%
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Cusip: | 90289C130
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