Published on 11/13/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $5.65 million trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., Nov. 13 – UBS AG, London Branch priced $5.65 million trigger callable contingent yield notes with daily coupon observation due May 4, 2023 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 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 9.35% per year if each index’s closing level is at or above its coupon barrier level, 65% of its initial level, on every trading day during that quarter.
The notes will be callable at par plus any coupon on each quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its 60% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below 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 coupon observation
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $5.65 million
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| Maturity: | May 4, 2023
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| Coupon: | 9.35% per year, payable each quarter that each index closes at or above its coupon barrier on every trading day during that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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| Call option: | At par plus any coupon, quarterly
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| Initial levels: | 27,347.36 for Dow, 8,161.167 for Nasdaq, 1,589.330 for Russell
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| Coupon barriers: | 17,775.78 for Dow, 5,304.759 for Nasdaq, 1,033.065 for Russell; 65% of initial levels
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| Downside thresholds: | 16,408.42 for Dow, 4,896.700 for Nasdaq, 953.598 for Russell; 60% of initial levels
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| Pricing date: | Nov. 1
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| Settlement date: | Nov. 6
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90281E803
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