Published on 12/24/2019 in the Prospect News Structured Products Daily.
New Issue: UBS prices $7.92 million contingent income autocallables on two stocks
By Sarah Lizee
Olympia, Wash., Dec. 24 – UBS AG, London Branch priced $7.92 million of contingent income autocallable securities due Dec. 9, 2022 linked to the common stocks of Amazon.com, Inc. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing shares close at or above the coupon barrier, 60% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 8.4%.
The notes will be called at par of $10 plus the contingent coupon if least performing shares close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price of the least performing stock is greater than or equal to the downside threshold level, 60% of its initial level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than the initial share price.
UBS Securities LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Amazon.com, Inc. and Facebook, Inc.
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| Amount: | $7,918,000
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| Maturity: | Dec. 9, 2022
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| Coupon: | 8.4% per year, payable quarterly if least performing shares close at or above coupon barrier on determination date for that quarter
|
| Price: | Par of $10.00
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| Payout at maturity: | If final share price of the least performing stock is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price of the least performing stock is less than initial share price
|
| Call: | At par plus contingent coupon if least performing shares close at or above initial share price on any quarterly determination date other than final determination date
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| Initial share price: | $1,751.60 for Amazon, $201.05 for Facebook
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| Coupon barrier: | $1,050.96 for Amazon, $120.63 for Facebook; 60% of initial share price
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| Downside threshold: | $1,050.96 for Amazon, $120.63 for Facebook; 60% of initial share price
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 11
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| Agent: | UBS Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 90281F545
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