UBS plans knock-in put spread warrants linked to S&P 500 index

By Sarah Lizee

Olympia, Wash., April 10 – UBS AG, London Branch plans to price knock-in put spread warrants due Oct. 11, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notional amount is $1,000 per warrant. The premium amount and original issue price is $19.00 per warrant.

If the final index level is less than the strike level, 97.5% of the initial index level, the warrants will be automatically exercised. If the index finishes at or above its 85% knock-in level, the payout will be the notional amount per warrant multiplied by the index change. If it closes below its knock-in level, the payout will be the notional amount per warrant multiplied by the spread cap percentage, 7.5%.

If the final index level is greater than or equal to the strike level, the warrants will expire worthless and the cash settlement amount will be zero.

J.P. Morgan Securities LLC and UBS Investment Bank are the agents.

The notes will price on April 12.

The Cusip number is 90281C666.

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