Published on 12/17/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.75 million trigger callable step-up contingent yield notes on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 17 – UBS AG, London Branch priced $1.75 million of trigger callable step-up contingent yield notes due Dec. 17, 2024 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon if each index closes at or above its coupon barrier, 60% of its initial level, on the related observation date. The contingent coupon’s annual rate is 5% initially, stepping up to 5.25% on March 12, 2021 and to 7% on March 14, 2022.
The notes are callable at par plus any coupon due on any quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable step-up contingent yield notes
|
| Underlying indexes: | Nasdaq-100, Russell 2000
|
| Amount: | $1.75 million
|
| Maturity: | Dec. 17, 2024
|
| Coupon: | Initially 5% per year, stepping up to 5.25% on March 12, 2021 and to 7% on March 14, 2022; payable quarterly if each index closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index finishes below threshold level
|
| Call option: | At par plus any coupon due on any quarterly observation date other than the final one
|
| Initial levels: | 8,466.895 for Nasdaq, 1,644.813 for Russell
|
| Coupon barriers: | 5,080.137 for Nasdaq, 986.888 for Russell; 60% of initial levels
|
| Downside thresholds: | 5,080.137 for Nasdaq, 986.888 for Russell; 60% of initial levels
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 17
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 2.35%
|
| Cusip: | 90270KZ51
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
