Published on 12/19/2017 in the Prospect News Structured Products Daily.
New Issue: UBS sells $7.09 million trigger autocallable contingent yield notes on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 19 – UBS AG, London Branch priced $7.09 million of trigger autocallable contingent yield notes due Dec. 18, 2020 linked to the lesser performing of the Nasdaq-100 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 6.3% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be called at par if each index 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 index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
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 and Nasdaq-100
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| Amount: | $7,094,490
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| Maturity: | Dec. 18, 2020
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| Coupon: | 6.3%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | After six months, at par plus contingent coupon if both indexes closes at or above initial levels on any quarterly observation date other than the final one
|
| Payout at maturity: | Par unless either index closes below 70% downside threshold, in which case 1% loss for each 1% decline of worse performing index
|
| Initial index levels: | 1,530.425 for Russell, 6,466.320 for Nasdaq-100
|
| Barriers/thresholds: | 1,071.298 for Russell, 4,526.424 for Nasdaq-100; 70% of initial levels
|
| Pricing date: | Dec. 15
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| Settlement date: | Dec. 20
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90280X844
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