Published on 5/21/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $18.86 million trigger autocallable contingent yield notes on Dow, Russell
By Sarah Lizee
Olympia, Wash., May 21 – UBS AG, London Branch priced $18.86 million of trigger autocallable contingent yield notes due May 18, 2023 linked to the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.8% if each asset closes at or above its coupon barrier, 65% of its initial level, on the review date for that quarter.
After six months, 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.
The payout at maturity will be par unless either asset finishes below its downside threshold level, 65% 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
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index
|
| Amount: | $18,857,070
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| Maturity: | May 18, 2023
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| Coupon: | 10.8%, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
|
| Price: | Par of $10
|
| 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: | 23,685.42 for Dow, 1,256.992 for Russell
|
| Coupon barriers: | 15,395.52 for Dow, 817.045 for Russell; 65% of initial levels
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| Downside thresholds: | 15,395.52 for Dow, 817.045 for Russell; 65% of initial levels
|
| Pricing date: | May 15
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| Settlement date: | May 20
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90281J687
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