Published on 3/11/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $25 million trigger autocallable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., March 11 – UBS AG, London Branch priced $25 million of trigger autocallable contingent yield notes due March 3, 2022 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.3% if each index closes at or above its coupon barrier, 70% of its initial level, on the related quarterly observation date.
After six months, the notes will be called at par if each index 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 either index finishes below the 65% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexess: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $25 million
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| Maturity: | March 3, 2022
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| Coupon: | 8.3%, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Call: | After six months at par plus contingent coupon if both indexes close at or above initial levels on any quarterly observation date other than the final one
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| Payout at maturity: | Par 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 levels: | 8,461.835 for Nasdaq, 1,476.431 for Russell, 2,954.22 for S&P
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| Coupon barriers: | 5,923.285 for Nasdaq, 1,033.502 for Russell, 2,067.95 for S&P; 70% of initial levels
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| Downside thresholds: | 5,500.193 for Nasdaq, 959.68 for Russell, 1,920.24 for S&P; 65% of initial levels
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| Pricing date: | March 5
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| Settlement date: | March 11
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| Agent: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90281G881
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