By Sarah Lizee
Olympia, Wash., Oct. 29 – UBS AG, London Branch priced $1.6 million of 0% autocallable inverse knock-out notes due Oct. 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes below its knock-out level – 75% of its initial level – on any trading day during the life of the notes, the notes will be automatically called at par plus 4%.
If the notes are not called and the index declines by up to 25%, the payout at maturity will be par plus the absolute index return. As a result, the maximum return on the notes is limited to 25%.
If the notes are not called and the index finishes flat or gains, the payout will be par.
J.P. Morgan Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Autocallable inverse knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $1.6 million
|
| Maturity: | Oct. 31, 2024
|
| Coupon: 0%
|
| Price: | Par
|
| Payout at maturity: | If index declines by up to 25% of initial level during life of notes, par plus absolute return of index; if index finishes flat or gains, par
|
| Call: | Automatically at par plus 4% if index closes below knock-out level on any trading day during life of notes
|
| Initial index level: | 3,022.55
|
| Knock-out level: | 2,266.91, 75% of initial index level
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 90270KS67
|
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