Published on 11/6/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $997,000 trigger autocall contingent yield notes with conditional threshold on stocks
By Sarah Lizee
Olympia, Wash., Nov. 6 – UBS AG, London Branch priced $997,000 of trigger autocallable contingent yield notes with conditional threshold event due Nov. 2, 2022 linked to shares of Citigroup Inc., salesforce.com, inc., Dollar Tree, Inc. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 9.3% per year if the shares of each stock close at or above the coupon barrier level, 60% of the initial share prices, on the observation date for that month.
The notes will be automatically called at par plus any coupon due if the shares of each stock close at or above its initial share price on any quarterly call observation date after six months.
A threshold event will occur if the final level of each stock is less than 110% of its initial level and the final level of the least performing stock is less than 60% of its initial level.
If a threshold event has not occurred, the payout at maturity will be par.
If a threshold event has occurred, the payout will be par plus the return of the least performing stock.
UBS Securities LLC 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 stocks: | Citigroup Inc., salesforce.com, inc., Dollar Tree, Inc. and Intel Corp.
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| Amount: | $997,000
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| Maturity: | Nov. 2, 2022
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| Contingent coupon: | 9.3%, payable monthly if each stock closes at or above coupon barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | If a threshold event has not occurred, par; if a threshold event has occurred, par plus the return of the least performing stock; threshold event will occur if final level of each stock is less than 110% of its initial level and the final level of the least performing stock is less than 60% of its initial level
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| Call: | Automatically at par plus any coupon due if each stock closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | $73.59 for Citi, $154.79 for salesforce, $113.42 for Dollar Tree, $56.76 for Intel
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| Coupon barriers: | $44.15 for Citi, $92.87 for salesforce, $68.05 for Dollar Tree, $34.06 for Intel; 60% of initial levels
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| Downside thresholds: | $44.15 for Citi, $92.87 for salesforce, $68.05 for Dollar Tree, $34.06 for Intel; 60% of initial levels
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| Upper barriers: | $80.95 for Citi, $170.27 for salesforce, $124.76 for Dollar Tree, $62.44 for Intel; 110% of initial levels
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| Pricing date: | Oct. 28
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| Settlement date: | Oct. 31
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.5%
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| Cusip: | 90270KQ44
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