Published on 6/17/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $632,000 trigger autocallable contingent yield notes on S&P, Russell
By Marisa Wong
Morgantown, W.Va., June 17 – UBS AG, London Branch priced $632,000 of trigger autocallable contingent yield notes due June 3, 2021 linked to the lesser performing of 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 quarterly coupon at an annual rate of 5.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the related quarterly observation date.
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
|
| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $632,000
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| Maturity: | June 3, 2021
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| Coupon: | 5.5%, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Call: | After six months, at par plus contingent coupon if both indexes close at or above initial levels on any quarterly observation date other than the final one
|
| 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 levels: | 2,802.39 for S&P, 1,504.019 for Russell
|
| Coupon barriers: | 1,961.67 for S&P, 1,052.813 for Russell; 70% of initial levels
|
| Downside thresholds: | 1,961.67 for S&P, 1,052.813 for Russell; 70% of initial levels
|
| Pricing date: | May 28
|
| Settlement date: | May 31
|
| Agent: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90270KC49
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