Published on 12/4/2018 in the Prospect News Structured Products Daily.
New Issue: UBS sells $11.42 million trigger autocallable notes on S&P, Nasdaq
By Sarah Lizee
Olympia, Wash., Dec. 4 – UBS AG, London Branch priced $11.42 million of trigger autocallable contingent yield notes due Nov. 30, 2021 linked to the least performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.8% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below the 70% downside threshold level, 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: | S&P 500, Nasdaq-100
|
| Amount: | $11,418,430
|
| Maturity: | Nov. 30, 2021
|
| Coupon: | 8.8%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call: | After six months, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date other than the final one
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
|
| Initial index levels: | 2,743.79 for S&P 500 and 6,913.326 for Nasdaq
|
| Barriers/thresholds: | 1,920.65 for S&P 500 and 4,839.328 for Nasdaq; 70% of initial levels
|
| Pricing date: | Nov. 28
|
| Settlement date: | Nov. 30
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90281B601
|
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