Published on 6/4/2018 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.52 million trigger autocallable contingent yield notes on Apple, Micron
By Wendy Van Sickle
Columbus, Ohio, June 4 – UBS AG, London Branch priced $5.52 million of trigger autocallable contingent yield notes due June 4, 2021 linked to the common stocks of Micron Technology, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 11.75% per year if the shares of each stock close at or above the coupon barrier level, 50% of the initial share price, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if the shares of each stock close at or above the initial share price on any observation date other than the final one.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 50% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the lesser performing stock is less than the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying stock: | Micron Technology, Inc. and Apple Inc.
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Amount: | $5,519,000
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Maturity: | June 4, 2021
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Contingent coupon: | 11.75%, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par unless either stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
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Call: | After six months, automatically at par if each stock closes at or above initial level on any quarterly observation date other than the final one
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Initial prices: | $187.90 for Apple, $62.62 for Micron
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Coupon barriers: | $93.95 for Apple, $31.31 for Micron, 50% of initial prices
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Downside thresholds: | $93.95 for Apple, $31.31 for Micron, 50% of initial prices
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Pricing date: | May 29
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Settlement date: | May 31
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.6%
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Cusip: | 90270KSA8
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