Published on 3/11/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $475,000 trigger autocallable contingent yield notes on indexes, ETF
By Sarah Lizee
Olympia, Wash., March 11 – UBS AG, London Branch priced $475,000 of trigger autocallable contingent yield notes due March 2, 2023 linked to the lesser performing of the S&P 500 index, the Nasdaq-100 index, the Russell 2000 index and the iShares MSCI Brazil 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 11.5% if each asset closes at or above its coupon barrier, 65% 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 either asset finishes below the 65% 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
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying assets: | S&P 500 index, Nasdaq-100 index, Russell 2000 index and iShares MSCI Brazil ETF
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| Amount: | $475,000
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| Maturity: | March 2, 2023
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| Coupon: | 11.5%, payable each quarter that each asset closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if both assets close at or above initial levels on any quarterly observation date other than the final one
|
| Payout at maturity: | Par unless either asset finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing asset
|
| Initial levels: | 8,436.666 for Nasdaq, 1,497.870 for Russell, 2,978.76 for S&P, $37.78 for ETF
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| Coupon barriers: | 5,483.833 for Nasdaq, 973.616 for Russell, 1,936.19 for S&P, $24.56 for ETF; 65% of initial levels
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| Downside thresholds: | 5,483.833 for Nasdaq, 973.616 for Russell, 1,936.19 for S&P, $24.56 for ETF; 65% of initial levels
|
| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.8%
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| Cusip: | 90270K5E5
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