Published on 4/30/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $204,000 trigger callable contingent yield notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., April 30 – UBS AG, London Branch priced $204,000 of trigger callable contingent yield notes due April 29, 2021 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date that quarter. The contingent coupon rate is 6% per year.
The notes are callable on any coupon observation date at par plus any coupon after six months.
If the notes are not called and each index finishes at or above its downside threshold, 70% of its initial 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 Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable contingent yield notes
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Underlying indexes: | Russell 2000, S&P 500
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Amount: | $204,000
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Maturity: | April 29, 2021
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Coupon: | 6% per year, payable each quarter that each index closes at or above its coupon barrier on observation date that quarter
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Price: | Par
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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, quarterly after six months
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Initial levels: | 1,575.612 for Russell, 2,926.17 for S&P
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Coupon barriers: | 1,102.928 for Russell, 2,048.32 for S&P; 70% of initial levels
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Downside thresholds: | 1,102.928 for Russell, 2,048.32 for S&P; 70% of initial levels
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Pricing date: | April 25
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Settlement date: | April 30
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 2.2%
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Cusip: | 90270KYY9
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