By Angela McDaniels
Tacoma, Wash., Sept. 26 – UBS AG, London Branch priced $1 million of trigger autocallable contingent yield notes due Sept. 25, 2020 linked to the common stocks of Bank of America Corp., Goldman Sachs Group Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9.85% per year if each stock closes at or above its downside threshold level, 70% of its initial share price, on the observation date for that quarter.
After six months, the notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly observation date.
If the notes are not called and each stocks’ final share price is greater than or equal to its downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing stock declines from its initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying stocks: | Bank of America Corp. (Symbol: BAC), Goldman Sachs Group Inc. (Symbol: GS) and JPMorgan Chase & Co. (Symbol: JPM)
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| Amount: | $1 million
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| Maturity: | Sept. 25, 2020
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 9.85% per year if each stock closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | If notes are not called and each stock’s final share price is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that least-performing stock declines from initial share price
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| Call: | After six months, automatically at par if each stock closes at or above initial share price on any quarterly observation date
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| Initial share prices: | $25.02 for Bank of America, $231.03 for Goldman Sachs and $94.83 for JPMorgan
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| Downside thresholds: | $17.51 for Bank of America, $161.72 for Goldman Sachs and $66.38 for JPMorgan, 70% of initial share price
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 22
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2.35%
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| Cusip: | 90270KMS5
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