Published on 7/19/2018 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.89 million 7.65% contingent yield trigger autocalls on S&P, MSCI EM
By Susanna Moon
Chicago, July 19 – UBS AG, London Branch priced $4.89 million of trigger autocallable contingent yield notes due July 16, 2021 linked to the least performing of the S&P 500 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.65% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if the index closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless either index finishes below its 70% downside threshold level, 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 assets: | S&P 500 index and MSCI Emerging Markets index
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| Amount: | $4,887,210
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| Maturity: | July 16, 2021
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| Coupon: | 7.65% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly call date after six months
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| Initial levels: | 2,801.31 for S&P and 1,075 for MSCI EM
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| Downside thresholds: | 1,960.92 for S&P and 752.95 for MSCI EM, 70% of initial levels
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| Pricing date: | July 13
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| Settlement date: | July 18
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90281A611
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