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UBS plans trigger contingent yield autocallables on Russell, S&P 500
By Susanna Moon
Chicago, April 13 – UBS AG, London Branch plans to price trigger autocallable contingent yield notes due April 22, 2019 linked to the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% to 8% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter. The exact barrier will be set at pricing.
The notes will be called at par if each index finishes at or above the initial level on any quarterly call date after six months.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
The notes will price on April 15 and settle on April 20.
The Cusip number is 90275R406.
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