Published on 8/17/2020 in the Prospect News Structured Products Daily.
UBS lifts step-down trigger autocalls on FTSE, Russell to $4.58 million
By Sarah Lizee
Olympia, Wash., Aug. 17 – UBS AG, London Branch lifted its 0% step-down trigger autocallable notes due Jan. 2, 2025 linked to the lesser performing of the FTSE 100 index and the Russell 2000 index to $4,575,960, according to a 424B2 filing with the Securities and Exchange Commission.
UBS originally priced $4,390,960 of the notes on Dec. 27.
After one year, the notes will be called at par plus an annual rate of 7.85% if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless either index finishes below the 75% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Step-down trigger autocallable notes
|
| Underlying indexes: | FTSE 100 index and Russell 2000 index
|
| Amount: | $4,390,960
|
| Maturity: | Jan. 2, 2025
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | After one year, the notes will be called at par plus an annual rate of 7.85% if each index closes at or above its initial level on any quarterly observation date
|
| Payout at maturity: | If notes are not called, par unless either index closes below 75% downside threshold, in which case 1% loss for each 1% decline of worse performing index
|
| Initial index levels: | 7,644.90 for FTSE, 1,669.033 for Russell
|
| Downside thresholds: | 5,733.68 for FTSE, 1,251.775 for Russell; 75% of initial levels
|
| Pricing date: | Dec. 27
|
| Settlement date: | Dec. 31
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.5%
|
| Cusip: | 90281F842
|
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