Published on 4/12/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $513,000 buffer autocallable contingent yield notes Russell, S&P
By Sarah Lizee
Olympia, Wash., April 12 – UBS AG London Branch priced $513,000 of buffer autocallable contingent yield notes due April 14, 2022 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.2% if each index closes at or above its 85% coupon barrier on the review date for that month.
The notes will be called at par if each index closes at or above its initial level on any monthly review date after one year.
The payout at maturity will be par unless either index finishes below its 85% buffer level, in which case investors will be exposed to any losses of the worse performing index beyond 15%.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Buffer autocallable contingent yield notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $513,000
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Maturity: | April 14, 2022
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Coupon: | 6.2%, payable monthly if each index closes at or above coupon barrier on observation date
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Price: | Par
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Call: | Notes will be called at par if each index closes at or above its initial level on any monthly review date after one year
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Payout at maturity: | Par unless each index closes below buffer level, in which case 1% loss for each 1% decline of lesser performing index beyond buffer
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Initial level: | 1,581,551 for Russell, 2,888.21 for S&P
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Coupon barriers: | 1,344,318 for Russell, 2,454.98 for S&P; 85% of initial levels
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Buffer levels: | 1,344,318 for Russell, 2,454.98 for S&P; 85% of initial levels
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Pricing date: | April 10
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Settlement date: | April 15
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.75%
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Cusip: | 90270KZG7
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