Published on 2/21/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.34 million trigger callable contingent yield notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – UBS AG, London Branch priced $1.34 million of trigger callable contingent yield notes due Feb. 17, 2022 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each six months, the notes pay a contingent coupon if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date that period. The contingent coupon rate is 9.5% per year.
The notes are callable on any coupon observation date at par plus any coupon after six months.
If the notes are not called and each index finishes at or above its downside threshold, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable contingent yield notes
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Underlying indexes: | Russell 2000, Euro Stoxx 50
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Amount: | $1,342,000
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Maturity: | Feb. 17, 2022
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Coupon: | 9.5% per year, payable each six months that each index closes at or above its coupon barrier on observation date that period
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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Call option: | At par plus any coupon, quarterly after six months
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Initial levels: | 1,569.247 for Russell, 3,241.25 for Stoxx
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Coupon barriers: | 1,098.473 for Russell, 2,268.88 for Stoxx; 70% of initial levels
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Downside thresholds: | 1,098.473 for Russell, 2,268.88 for Stoxx; 70% of initial levels
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Pricing date: | Feb. 15
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Settlement date: | Feb. 22
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0%
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Cusip: | 90270KXH7
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