By Marisa Wong
Madison, Wis., May 4 – UBS AG, London Branch priced $810,000 of European-style, cash-settled call warrants expiring April 24, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The 81 warrants have a notional amount of $60,509.61 each and sold for $10,000 each, or 16.5263% of the notional amount.
The warrants will be automatically exercised on the expiration date if the index’s final level is greater than the initial index level. The cash settlement amount will be the greater of (a) the notional amount per warrant multiplied by the index return and (b) zero. The cash settlement payment date is April 30, 2020.
The index return must be greater than 16.5263% for investors to receive a positive return on their initial investments.
If the index’s final level is equal to or less than the initial index level, the warrants will expire worthless and investors will lose their entire initial investments in the warrants.
UBS Financial Services, Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Call warrants
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| Underlying index: | Euro Stoxx 50 index
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| Warrants: | 81
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| Notional amount: | $60,509.61 each
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| Price: | $10,000 each, or $810,000 total
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| Expiration date: | April 24, 2020
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| Cash settlement date: | April 30, 2020
|
| Payout: | If index’s final level is greater than initial index level, warrants will be automatically exercised and investors will receive greater of (a) notional amount per warrant multiplied by index return and (b) zero; if index’s final level is equal to or less than initial index level, warrants will expire worthless and investors will receive nothing
|
| Initial index level: | 3,715.42
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| Pricing date: | April 28
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| Settlement date: | April 30
|
| Underwriters: | UBS Financial Services, Inc. and UBS Investment Bank
|
| Fees: | $500 per warrant
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| Cusip: | 90274P807
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