Published on 12/11/2019 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.28 million trigger autocallable contingent yield notes on ETFs
By Sarah Lizee
Olympia, Wash., Dec. 11 – UBS AG, London Branch priced $4.28 million of trigger autocallable contingent yield notes due Nov. 26, 2021 linked to the lesser performing of the Technology Select Sector SPDR fund, the Health Care Select Sector SPDR fund and the SPDR S&P Retail 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 10.7% if each asset closes at or above its coupon barrier, 70% of its initial level, on the related quarterly observation date.
The notes will be called at par if each asset closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless any asset finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing asset.
UBS Financial Services Inc. 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 assets: | Technology Select Sector SPDR fund, the Health Care Select Sector SPDR fund and the SPDR S&P Retail ETF
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Amount: | $4,277,000
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Maturity: | Nov. 26, 2021
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Coupon: | 10.7%, payable each quarter that each asset closes at or above coupon barrier on observation date for that quarter
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Price: | Par of $10
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Call: | At par plus contingent coupon if all assets close at or above initial levels on any quarterly observation date other than the final one
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Payout at maturity: | Par unless any asset finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing asset
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Initial levels: | $86.59 for tech fund, $98.26 for health care fund, $43.84 for retail ETF
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Coupon barriers: | $60.61 for tech fund, $68.78 for health care fund, $30.69 for retail ETF 70% of initial levels
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Downside thresholds: | $60.61 for tech fund, $68.78 for health care fund, $30.69 for retail ETF 70% of initial levels
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Pricing date: | Nov. 22
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Settlement date: | Dec. 2
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Agent: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.75%
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Cusip: | 90270KW21
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