UBS amends pricing, maturity dates for dual range contingent notes on S&P, CMS

By Sarah Lizee

Olympia, Wash., March 6 – UBS AG London Branch changed the pricing date and maturity date for its planned dual range market-linked contingent income notes linked to the 10-year CMS rate and the S&P 500 index, according to an amended 424B2 filing with the Securities and Exchange Commission.

The maturity date is now March 24, 2020, from March 17, 2020 previously.

UBS will pay a quarterly contingent coupon only if on the applicable observation date the closing level of the S&P 500 index is equal to or less than 98% of the initial level and the CMS rate is equal to or greater than 102% of its initial level. The annualized interest rate will be 12% to 16%.

The payout at maturity will be par of $10 plus any coupon due.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

The notes will price on March 15, from March 8 previously.

The Cusip number is 90281C344.

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