Published on 5/21/2019 in the Prospect News Structured Products Daily.
New Issue: UBS prices $12.44 million trigger autocallables linked to Nasdaq, S&P
By Angela McDaniels
Tacoma, Wash., May 21 – UBS AG, London Branch priced $12.44 million of trigger autocallable contingent yield notes due May 20, 2022 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 7% if each index closes at or above its downside threshold, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold, in which case 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: | Trigger autocallable contingent yield notes
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Underlying indexes: | S&P 500 and Nasdaq-100
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Amount: | $12,437,830
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Maturity: | May 20, 2022
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Coupon: | 7%, payable quarterly if indexes close at or above downside thresholds on observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par unless either index finishes below downside threshold, in which case exposure to decline of lesser-performing index from initial level
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Call: | After six months, automatically at par if indexes close at or above initial levels on any quarterly observation date
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Initial levels: | 2,859.53 for S&P 500 and 7,503.68 for Nasdaq-100
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Downside thresholds: | 2,001.67 for S&P 500 and 5,252.576 for Nasdaq-100, or 70% of initial levels
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Pricing date: | May 17
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Settlement date: | May 22
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Underwriter: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90281D268
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