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UBS to price trigger autocallables linked to S&P 500, Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., July 24 – UBS AG, London Branch plans to price trigger autocallable contingent yield notes due Aug. 1, 2022 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 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 7.5% per year if each index closes at or above its downside threshold, 75% of its initial level, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold, in which case investors will be fully exposed to the decline of the lesser-performing index.
UBS Securities LLC and UBS Investment Bank are the underwriters.
The notes will price July 27.
The Cusip number is 90270KLQ0.
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