New Issue: UBS prices $6.65 million 5.1% airbag yield notes tied to Nasdaq, S&P

By Sarah Lizee

Olympia, Wash., Nov. 8 – UBS AG London Branch priced $6.65 million of 5.1% airbag yield notes due Jan. 5, 2021 linked to the least performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

If the final level of the lesser performing asset is greater than or equal to the downside threshold, 80% of its initial level, the payout will be par.

Otherwise, investors will lose 1.25% for every 1% decline of the lesser performing asset beyond 20%.

UBS Securities LLC and UBS Investment Bank are the underwriters.

Issuer:	UBS AG London Branch
Issue:	Airbag yield notes
Underlying assets:	Nasdaq-100 index and S&P 500 index
Amount:	$6.65 million
Maturity:	Jan. 5, 2021
Coupon:	5.1%, payable monthly
Price:	Par
Payout at maturity:	If the final level of the lesser performing asset is greater than or equal to the downside threshold, par; otherwise, investors will lose 1.25% for every 1% decline of the lesser performing asset beyond 20%
Initial levels:	8,083.113 for Nasdaq, 3,046.77 for S&P
Buffer levels:	6,466.490 for Nasdaq, 2,437.42 for S&P; 80% of initial levels
Pricing date:	Oct. 30
Settlement date:	Nov. 4
Underwriters:	UBS Securities LLC and UBS Investment Bank
Fees:	None
Cusip:	90270KU31

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