Published on 12/17/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $12.9 million trigger callable contingent yield notes on indexes
By Kiku Steinfeld
Chicago, Dec. 17 – UBS AG, London Branch priced $12.9 million trigger callable contingent yield securities due May 19, 2022 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 8% per year if each index’s closing level is at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be callable at par plus the coupon on any observation date.
If the notes are not called and each index finishes at or above its 70% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger callable contingent yield securities
|
Underlying indexes: | Nasdaq-100, Russell 2000, S&P 500
|
Amount: | $12,900,000
|
Maturity: | May 19, 2022
|
Coupon: | 8% per year, payable each quarter that each index closes at or above its coupon barrier on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
|
Call option: | At par plus any coupon on any observation date
|
Initial levels: | 8,315.523 for Nasdaq, 1,596.454 for Russell, 3,120.46 for S&P
|
Coupon barrier/downside thresholds: | 5,820.866 for Nasdaq, 1,117.518 for Russell, 2,184.32 for S&P; 70% of initial levels
|
Pricing date: | Nov. 15
|
Settlement date: | Nov. 20
|
Agent: | UBS Financial Services Inc.
|
Dealer: | Morgan Stanley Wealth Management
|
Fees: | 2%
|
Cusip: | 90270KV30
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.