Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $2.34 million trigger autocallable contingent yield notes with memory coupon on stocks
By Sarah Lizee
Olympia, Wash., April 8 – UBS AG, London Branch priced $2.34 million of trigger autocallable contingent yield notes with memory interest due March 30, 2023 linked to the common stocks of Amazon.com, Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.85% if each stock closes at or above its coupon barrier level, 65% of its initial level, on the related quarterly observation date, in which case any previously unpaid coupons will also be paid.
The notes will be called at par of $10 plus the coupon and any previously unpaid coupons if each stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either stock finishes below its 65% downside threshold level, in which case investors will lose 1% for each 1% decline of the lesser performing stock from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Amazon.com, Inc. and Visa Inc.
|
| Amount: | $2,342,000
|
| Maturity: | March 30, 2023
|
| Coupon: | 8.85%, payable each quarter that each stock closes at or above coupon barrier on observation date for that quarter, in which case any previously unpaid coupons will also be paid
|
| Price: | Par of $10
|
| Call: | At par plus coupon any previously unpaid coupons if each stock closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par unless either stock finishes below downside threshold, in which case 1% loss for each 1% decline of lesser performing stock from initial level
|
| Initial levels: | $1,900.10 for Amazon, $161.56 for Visa
|
| Downside threshold/coupon barriers: | $1,235.07 for Amazon, $105.01 for Visa, 65% of initial level
|
| Pricing date: | March 27
|
| Settlement date: | March 31
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.35%
|
| Cusip: | 90270K5U9
|
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