Published on 1/8/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $4.53 million trigger callable contingent yield notes on Russell, S&P
Chicago, Jan. 8 – UBS AG, London Branch priced $4.53 million of trigger callable contingent yield notes due Dec. 27, 2024 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon if each index closes at or above its coupon barrier, 60% of its initial level, on the observation date that period. The contingent coupon rate is 5.25% per year.
After six months, the notes are callable on any quarterly coupon observation date at par plus any coupon.
If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Russell 2000, S&P 500
|
| Amount: | $4,530,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 5.25% per year, payable quarterly if each index closes at or above its coupon barrier on observation date that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
|
| Call option: | After six months, the notes are callable at par plus any coupon, callable quarterly
|
| Initial levels: | 1,674.141 for Russell, 3,224.01 for S&P
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| Coupon barriers: | 1,004.485 for Russell, 1,934.41 for S&P; 60% of initial levels
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| Downside thresholds: | 1,004.485 for Russell, 1,934.41 for S&P; 60% of initial levels
|
| Pricing date: | Dec. 23
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| Settlement date: | Dec. 27
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| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 3.25%
|
| Cusip: | 90270KW70
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