UBS eyes trigger autocallable contingent yield notes on indexes, ETF

By Sarah Lizee

Olympia, Wash., Sept. 26 – UBS AG, London Branch plans to price trigger autocallable contingent yield notes due Sept. 30, 2021 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI Eurozone ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if each asset closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if each asset 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 any asset finishes below the 75% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing asset.

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

The notes will price Sept. 27.

The Cusip number is 90270KN88.

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