Published on 8/15/2019 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.73 million 5.36% airbag yield notes tied to index, ETF
By Sarah Lizee
Olympia, Wash., Aug. 15 – UBS AG London Branch priced $4.73 million of 5.36% airbag yield notes due Oct. 15, 2020 linked to the least performing of the iShares MSCI EAFE ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the final level of the lesser performing asset is greater than or equal to the downside threshold, 82.5% of its initial level, the payout will be par.
Otherwise, investors will lose 1.2121% for every 1% decline of the lesser performing asset beyond 17.5%.
UBS Securities LLC and UBS Investment Bank are the underwriters.
Issuer: | UBS AG London Branch
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Issue: | Airbag yield notes
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Underlying assets: | iShares MSCI EAFE ETF and the Russell 2000 index
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Amount: | $4,725,000
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Maturity: | Oct. 15, 2020
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Coupon: | 5.36%, payable quarterly
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Price: | Par
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Payout at maturity: | If the final level of the lesser performing asset is greater than or equal to the downside threshold, par; otherwise, investors will lose 1.2121% for every 1% decline of the lesser performing asset beyond 17.5%
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Initial levels: | $62.44 for ETF, 1,494.275 for index
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Buffer levels: | $51.51 for ETF, 1,232.777 for index; 82.5% of initial levels
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Pricing date: | Aug. 12
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Settlement date: | Aug. 15
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Underwriters: | UBS Securities LLC and UBS Investment Bank
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Fees: | None
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Cusip: | 90270KK73
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