Published on 4/6/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $84,000 trigger autocallable contingent yield notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, April 6 – UBS AG, London Branch priced $84,000 of trigger autocallable contingent yield notes due March 31, 2022 linked to the S&P 500 index and the Russell 2000 index, 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% if each asset closes at or above its coupon barrier, 75% of its initial level, on the review date for that quarter.
The notes will be called at par of $10 plus the coupon if each asset closes at or above its initial level on any review date after six months.
The payout at maturity will be par plus the final coupon unless either asset finishes below its downside threshold level, 75% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing asset from its initial level.
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 indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $84,000
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| Maturity: | March 31, 2022
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| Coupon: | 10%, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
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| Call: | At par plus coupon if both indexes close at or above initial levels on any review date after six months
|
| Payout at maturity: | Par unless either index finishes below its downside threshold, in which case 1% loss for each 1% decline of worse performing index
|
| Initial index levels: | 2,630.07 for S&P, 1,180.319 for Russell
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| Coupon barriers: | 1,972.55 for S&P, 885.239 for Russell; 75% of initial levels
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| Downside thresholds: | 1,972.55 for S&P, 885.239 for Russell; 75% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 31
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90270K4Y2
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