UBS plans step-down trigger autocallable notes on Russell, Stoxx

By Sarah Lizee

Olympia, Wash., May 3 – UBS AG London Branch plans to price 0% step-down trigger autocallable notes due May 13, 2024 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 10% if each index closes at or above its call level on any quarterly review date. The call level will be 100% of the initial level for each index to and including May 11, 2020, stepping down to 95% of the initial level for each index onwards.

If the notes are not called, the payout at maturity will be par unless either index finishes below 65% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index from its initial level.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

The notes will price on May 9.

The Cusip number is 90270KC80.

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