Published on 5/4/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $535,000 trigger autocallable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., May 4 – UBS AG, London Branch priced $535,000 of trigger autocallable contingent yield notes due April 28, 2022 linked to the lesser performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, 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% if each index closes at or above its coupon barrier, 60% of its initial level, on the related quarterly observation date.
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 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
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $535,000
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Maturity: | April 28, 2022
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Coupon: | 8%, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
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Price: | Par
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Call: | At par plus contingent coupon if both indexes close at or above initial levels on any quarterly observation date other than the final one
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Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
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Initial levels: | 23,775.27 for Dow, 8,786.604 for Nasdaq, 1,233.053 for Russell
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Coupon barriers: | 14,265.16 for Dow, 5,271.962 for Nasdaq, 739.832 for Russell; 60% of initial levels
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Downside thresholds: | 14,265.16 for Dow, 5,271.962 for Nasdaq, 739.832 for Russell, 60% of initial levels
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Pricing date: | April 24
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Settlement date: | April 29
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Agent: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.5%
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Cusip: | 90276BBK8
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