Published on 4/18/2018 in the Prospect News Structured Products Daily.
New Issue: UBS prices $16.16 million 9.32% contingent yield trigger autocalls tied to indexes
By Susanna Moon
Chicago, April 18 – UBS AG, London Branch priced $4.9 million of trigger callable contingent yield notes due April 16, 2021 linked to the lesser performing of the MSCI Emerging Markets 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 at an annual rate of 9.32% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called if each index closes at or above its initial level on any quarterly observation date other than the final date.
The payout at maturity will be par unless either index finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | MSCI Emerging Markets and S&P 500
|
| Amount: | $16,164,200
|
| Maturity: | April 16, 2021
|
| Coupon: | 9.32% annualized, payable quarterly if each index closes at or above its coupon barrier 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 per 1% decline of worse performing index
|
| Call: | At par if each index closes at or above its initial level on each quarterly observation date other than final date after six months
|
| Initial levels: | 2,656.30 for S&P and 1,170.09 for MSCI EM
|
| Downside thresholds: | 1,859.41 for S&P and 819.06 for MSCI EM; 70% of initial levels
|
| Pricing date: | April 13
|
| Settlement date: | April 18
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90280Y875
|
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