Published on 12/30/2019 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.88 million trigger contingent yield notes linked to Russell, S&P
By Angela McDaniels
Tacoma, Wash., Dec. 30 – UBS AG, London Branch priced $4.88 million of trigger callable contingent yield notes due Dec. 24, 2024 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at a rate of 6% per year if each index closes at or above its downside threshold, 60% of its initial level, on the observation date for that quarter.
The notes are callable at par of $10 on any quarterly coupon payment date.
If the notes are not called and each index finishes at or above its downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $4,883,000
|
| Maturity: | Dec. 24, 2024
|
| Coupon: | 6% per year, payable quarterly if each index closes at or above its downside threshold on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that lesser-performing index’s final level is below initial level
|
| Call option: | At par on any quarterly coupon payment date
|
| Initial levels: | 1,667.094 for Russell 2000 and 3,205.37 for S&P 500
|
| Downside thresholds: | 1,000.256 for Russell 2000 and 1,923.22 for S&P 500, or 60% of initial levels
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 24
|
| Underwriters: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 2.25%
|
| Cusip: | 90270KW96
|
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