Published on 2/11/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $10.64 million step down trigger autocallables linked to Nasdaq, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 11 – UBS AG, London Branch priced $10.64 million of 0% step down trigger autocallable notes due Feb. 10, 2025 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus 8.15% per year if each index closes at or above its call threshold level on any quarterly observation date after one year. For each index, the call threshold level will be equal to the initial index level for the each observation date except the final one, which the call threshold level will be the 70% downside threshold.
If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold, 70% of its initial level, and investors will be exposed to the decline of the least-performing index from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Russell 2000, Nasdaq-100 and S&P 500
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| Amount: | $10,637,000
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| Maturity: | Feb. 10, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Full exposure to decline of least-performing index from initial level
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| Call: | At par plus 8.15% per year if each index closes at or above its call threshold level on any quarterly observation date after one year
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| Initial index levels: | 1,681.921 for Russell 2000, 9,367.481 for Nasdaq-100 and 3,334.69 for S&P 500
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| Downside thresholds: | 1,177.345 for Russell 2000, 6,557.237 for Nasdaq-100 and 2,334.28 for S&P 500; 70% of initial levels
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| Call threshold levels: | Equal to initial index levels for each observation date except final one when it will be downside threshold level
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| Pricing date: | Feb. 5
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| Settlement date: | Feb. 10
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90281G493
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