Published on 8/20/2018 in the Prospect News Structured Products Daily.
New Issue: UBS sells $6.35 million step down trigger autocallables on S&P, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Aug. 20 – UBS AG, London Branch priced $6.35 million of 0% step down trigger autocallable notes due Aug. 15, 2023 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus 9.5% per year if each index closes at or above its initial level on any of the first four annual observation dates and 70% of its initial level on the final observation date.
If the notes are not subject to an automatic call, that means 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 lesser-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: | S&P 500 index, Euro Stoxx 50 index
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| Amount: | $6,346,500
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| Maturity: | Aug. 15, 2023
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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 lesser-performing index from initial level
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| Call: | Automatically at par plus 9.5% per year if each index closes at or above its initial level on any annual of the first four observation dates and 70% of initial level on final date
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| Initial values: | 2,833.28 for S&P, 3,426.28 for Stoxx
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| Downside thresholds: | 1,983.3 for S&P, 2,398.4 for Stoxx; 70% of initial values
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 15
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90281A710
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