Published on 11/6/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $9.92 million trigger callable contingent yield notes on Russell, Nasdaq
By Kiku Steinfeld
Chicago, Nov. 6 – UBS AG, London Branch priced $9.92 million of trigger callable contingent yield notes with daily observation due Oct. 14, 2022 linked to the Nasdaq-100 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 the rate of 9% per year if each index’s closing level is at or above its coupon barrier level, 67.5% of its initial level, each day during the observation period.
The notes may be called at par of $10 plus the coupon, if any, on any quarterly determination date other than the final determination date.
The payout at maturity will be par plus the final coupon and any coupon due unless either asset finishes at or below the downside threshold level, 67.5% 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 callable contingent yield notes with daily observation
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $9,924,000
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| Maturity: | Oct. 14, 2022
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| Coupon: | 9%, payable quarterly if each index closes at or above coupon barrier on each day during the observation period
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| Price: | Par of $10
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| Call: | Par plus coupon, if any, callable on any quarterly determination date other than final determination date
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| Payout at maturity: | Par plus any coupon due unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
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| Initial index levels: | 1,485.364 for Russell, 7,740.362 for Nasdaq
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| Coupon barriers: | 1,002.621 for Russell, 5,224.744 for Nasdaq; 67.5% of initial levels
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| Downside thresholds: | 1,002.621 for Russell, 5,224.744 for Nasdaq; 67.5% of initial levels
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 17
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90281E613
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