Published on 12/24/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $14.6 million trigger autocallable contingent yield notes on S&P, Nasdaq
By Sarah Lizee
Olympia, Wash., Dec. 24 – UBS AG, London Branch priced $14.6 million of trigger autocallable contingent yield notes due Dec. 15, 2021 linked to the Nasdaq-100 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 8% if each asset closes at or above its coupon barrier, 75% of its initial level, on the review date for that quarter.
After six months, the notes will be called at par of $10 plus the coupon if each asset closes at or above its initial level on any review date.
The payout at maturity will be par plus the final coupon unless either asset finishes below its downside threshold level, 75% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing asset from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | S&P 500 index, Nasdaq-100 index
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Amount: | $14,600,390
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Maturity: | Dec. 15, 2021
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Coupon: | 8%, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
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Price: | Par of $10
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Call: | At par plus coupon if both indexes close at or above initial levels on any review date after six months
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Payout at maturity: | Par unless either index finishes below its downside threshold, in which case 1% loss for each 1% decline of worse performing index
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Initial index levels: | 8,354.293 for Nasdaq, 3,132.52 for S&P
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Coupon barriers: | 6,265.72 for Nasdaq, 2,349.39 for S&P; 75% of initial levels
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Downside thresholds: | 6,265.72 for Nasdaq, 2,349.39 for S&P; 75% of initial levels
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Pricing date: | Dec. 10
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Settlement date: | Dec. 13
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90281F685
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