Published on 4/25/2019 in the Prospect News Structured Products Daily.
New Issue: UBS prices $18.98 million trigger autocallable contingent yield notes on indexes
By Marisa Wong
Morgantown, W.Va., April 25 – UBS AG, London Branch priced $18.98 million of trigger autocallable contingent yield notes due April 29, 2021 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 quarterly coupon at an annual rate of 7.6% if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
After six months, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below the 75% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $18,979,300
|
| Maturity: | April 29, 2021
|
| Coupon: | 7.6%, payable each quarter that each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | After six months, at par plus contingent coupon if both indexes close at or above initial levels on any quarterly observation date other than the final one
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
|
| Initial levels: | 1,588.132 for Russell, 2,927.25 for S&P
|
| Coupon barriers: | 1,191.099 for Russell, 2,195.44 for S&P; 75% of initial levels
|
| Downside thresholds: | 1,191.099 for Russell, 2,195.44 for S&P; 75% of initial levels
|
| Pricing date: | April 24
|
| Settlement date: | April 30
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90281C773
|
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