Published on 8/13/2019 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2 million contingent income autocallables linked to Russell, S&P
By Angela McDaniels
Tacoma, Wash., Aug. 13 – UBS AG, London Branch priced $2 million of contingent income autocallable securities with daily coupon observation due Nov. 15, 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.
Each quarter, the notes will pay a contingent coupon at the rate of 9.1% per year if each index closes at or above its downside threshold level, 80% of its initial level, on each trading day during that quarter.
Beginning Feb. 10, 2020, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless either index finishes below its downside threshold level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.
UBS Securities LLC and Morgan Stanley Wealth Management are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities with daily coupon observation
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2 million
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| Maturity: | Nov. 15, 2021
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| Coupon: | 9.1% per year, payable quarterly if each index closes at or above downside threshold level on each trading day during that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below downside threshold level, in which case exposure to decline of lesser-performing index
|
| Call: | Beginning Feb. 10, 2020, automatically at par if each index closes at or above initial level on any quarterly determination date
|
| Initial levels: | 1,513.043 for Russell 2000 and 2,918.65 for S&P 500
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| Downside thresholds: | 1,210.434 for Russell 2000 and 2,334.92 for S&P 500, or 80% of initial levels
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| Pricing date: | Aug. 9
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| Settlement date: | Aug. 14
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| Agents: | UBS Securities LLC and Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 90270KK65
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