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UBS plans to price put spread warrants linked to S&P 500 index
By Sarah Lizee
Olympia, Wash., Sept. 11 – UBS AG, London Branch plans to price put spread warrants due Sept. 25, 2020 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 $26.90 per warrant.
If the final index level is less than the strike level, 95% of the initial index level, the warrants will be automatically exercised. The payout will be the notional amount per warrant multiplied by the lesser of the index change and the 10% spread cap.
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 Sept. 13.
The Cusip number is 90281E332.
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