By Sarah Lizee
Olympia, Wash., Oct. 3 – UBS AG London Branch priced $3.65 million of contingent income autocallable securities due April 1, 2021 linked to the worst performing of the Financial Select Sector SPDR fund and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each underlying asset closes at or above its 80% coupon barrier each day that quarter.
The notes will be called at par if each component closes at or above its initial level on any determination end date.
The payout at maturity will be par unless any underlying asset finishes below its 80% threshold level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | UBS AG London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying assets: | Financial Select Sector SPDR fund, SPDR S&P Regional Banking ETF
|
| Amount: | $3.65 million
|
| Maturity: | April 1, 2021
|
| Coupon: | 8% annualized, payable quarterly if each asset closes at or above its 80% coupon barrier each day that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each asset finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of worst performing index or fund
|
| Call: | At par if each component closes at or above its initial level on any quarterly observation period end date
|
| Initial levels: | $27.58 for Financial, $59.42 for S&P
|
| Threshold levels: | $22.06 for Financial, $47.54 for S&P, 80% of initial levels
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 3
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| Underwriter: | UBS Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 90270KUN7
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