Published on 11/1/2019 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.21 million capped airbag gears linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 1 – UBS AG, London Branch priced $4.21 million of 0% capped airbag gears due Nov. 4, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, subject to a maximum return of 18.96%.
If the index return is zero or negative and the final index level is greater than the downside threshold, 80% of the initial level, the payout will be par.
If the final index level is less than the downside threshold, investors will lose 1.25% loss for each 1% that the index declines beyond 20%.
UBS Securities LLC and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Capped airbag gears
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Underlying index: | S&P 500
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Amount: | $4,205,000
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Maturity: | Nov. 4, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 1.5 times index return, subject to maximum return of 18.96%; if index return is zero or negative and final index level is greater than downside threshold, par; if final index level is less than downside threshold, 1.25% loss for each 1% that index declines beyond 20%
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Initial level: | 3,046.77 (closing level on Oct. 30)
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Downside threshold: | 2,437.42, or 80% of initial level
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Pricing date: | Oct. 31
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Settlement date: | Nov. 4
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Underwriters: | UBS Securities LLC and UBS Investment Bank
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Fees: | None
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Cusip: | 90270KT90
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