Published on 12/20/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $5.53 million trigger callable contingent yield notes on indexes
Chicago, Dec. 20 – UBS AG, London Branch priced $5.53 million trigger callable contingent yield notes with daily coupon observation due Feb. 27, 2023 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.6% per year if each index’s closing level is at or above its coupon barrier level, 70% of its initial level, on every trading day during that quarter.
The notes will be callable at par plus any coupon on each quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its 55% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield securities with daily coupon observation
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| Underlying indexes: | Nasdaq-100, Russell 2000, S&P 500
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| Amount: | $5,525,000
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| Maturity: | Feb. 27, 2023
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| Coupon: | 8.6% per year, payable each quarter that each index closes at or above its coupon barrier on every trading day during that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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| Call option: | At par plus any coupon on any quarterly observation date other than final one
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| Initial levels: | 8,265.618 for Nasdaq, 1,583.962 for Russell, 3,103.54 for S&P
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| Coupon barriers: | 5,785.933 for Nasdaq, 1,108.773 for Russell, 2,172.48 for S&P; 70% of initial levels
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| Downside thresholds: | 4,546.090 for Nasdaq, 871.179 for Russell, 1,706.95 for S&P; 55% of initial levels
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| Pricing date: | Nov. 21
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| Settlement date: | Nov. 26
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90281F396
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