Published on 11/7/2018 in the Prospect News Structured Products Daily.
New Issue: UBS sells $100,000 airbag yield optimization notes linked to Adobe
By Marisa Wong
Morgantown, W.Va., Nov. 7 – UBS AG, London Branch priced $100,000 of 7% annualized airbag yield optimization notes due May 6, 2019 linked to the common stock of Adobe Systems Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a cash amount equal to the final share price multiplied by the share factor, which is equal to $1,000 divided by the conversion price. The conversion price is 87.83% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank is the agent.
Issuer: | UBS AG, London Branch
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Issue: | Airbag yield optimization notes
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Underlying stock: | Adobe Systems Inc. (Symbol: ADBE)
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Amount: | $100,000
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Maturity: | May 6, 2019
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Coupon: | 7% annualized, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, cash amount equal to final share price times share factor of 4.6419; otherwise, par
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Initial share price: | $245.28
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Conversion price: | $215.43, 87.83% of initial price
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Pricing date: | Nov. 1
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Settlement date: | Nov. 5
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1%
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Cusip: | 90286E857
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