Published on 6/5/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.48 million trigger autocallable contingent yield notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, June 5 – UBS AG, London Branch priced $1.48 million of trigger autocallable contingent yield notes with daily close monitoring knock-in due Sept. 3, 2020 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 monthly coupon at an annual rate of 8.6% if each asset closes at or above its coupon barrier, 70% of its initial level, on each day that month.
After six months, the notes will be called at par of $10 if each asset closes at or above its initial level on any monthly observation date.
The payout at maturity will be par plus the final coupon unless either asset finishes below the downside threshold level, 70% 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
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| Issue: | Trigger autocallable contingent yield notes with daily close monitoring knock-in
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $1,475,000
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| Maturity: | Sept. 3, 2020
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| Coupon: | 8.6%, payable monthly if each index closes at or above coupon barrier on each day that month
|
| Price: | Par of $10
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| Call: | At par if both indexes close at or above initial levels on any payment date after six months
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
|
| Initial index levels: | 1,485.531 for Russell, 2,788.86 for S&P
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| Coupon barriers: | 1,039.872 for Russell, 1,952.2 for S&P; 70% of initial levels
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| Downside thresholds: | 1,039.872 for Russell, 1,952.2 for S&P; 70% of initial levels
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| Pricing date: | May 30
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| Settlement date: | June 4
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.5%
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| Cusip: | 90270KZT9
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