Published on 12/7/2018 in the Prospect News Structured Products Daily.
New Issue: UBS sells $5.73 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 7 – UBS AG, London Branch priced $5.73 million of trigger callable contingent yield notes due Dec. 3, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.85% if each index’s closing level remains at or above its coupon barrier, 65% of its initial level, on each day that quarter.
The notes will be callable at par of $10 on each quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. is the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable contingent yield notes
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Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
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Amount: | $5,727,000
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Maturity: | Dec. 3, 2020
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Coupon: | 7.85% per year, payable quarterly if each index closes at or above its coupon barrier on each day that quarter
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Price: | Par of $10
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Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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Call option: | Callable at par on each quarterly observation date
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Initial index levels: | 2,760.17 for S&P, 1,533.266 for Russell and 25,538.46 for Dow
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Coupon barriers: | 1,794.11 for S&P, 996.623 for Russell and 16,600.0 for Dow; 65% of initial levels
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Downside thresholds: | 1,794.11 for S&P, 996.623 for Russell and 16,600.0 for Dow; 65% of initial levels
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Pricing date: | Nov. 30
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Settlement date: | Dec. 5
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Agent: | UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 90270KVX4
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