Published on 9/19/2018 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.32 million barrier absolute return notes linked to S&P
By Sarah Lizee
Olympia, Wash., Sept. 19 – UBS AG, London Branch priced $3.32 million of 0% barrier absolute return market-linked notes with daily barrier observation due Sept. 17, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the index closes above the upper barrier, 120.65% of the initial level, or below the lower barrier, 79.35% of the initial level, during the life of the notes.
If a barrier event occurs, the payout at maturity will be par of $1,000 plus 2%.
If no barrier event occurs, the payout will be par plus the absolute value of the index return.
UBS Investment Bank and UBS Financial Services Inc. are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Barrier absolute return market-linked notes with daily barrier observation
|
| Underlying index: | S&P 500
|
| Amount: | $3,321,000
|
| Maturity: | Sept. 17, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index closes above the upper barrier or below the lower barrier on any day during the life of the notes, par plus 2%; otherwise, par plus the absolute value of the index return
|
| Initial level: | 2,904.98
|
| Upper barrier: | 3,504.86, 120.65% of initial level
|
| Lower barrier: | 2,305.10, 79.35% of initial level
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 19
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90270KTR0
|
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