Published on 4/2/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $5 million contingent income autocallables tied to Apple, Amazon, Alphabet
By Wendy Van Sickle
Columbus, Ohio, April 2 – UBS AG, London Branch priced $5 million of contingent income autocallable securities due March 23, 2023 linked to the worst performing of the stocks of Apple Inc., Amazon.com, Inc. and the Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 22% if each underlying asset closes at or above its 75% coupon barrier on the relevant determination date.
The notes will be called at par if each component closes at or above its initial level on any determination end date other the final one.
The payout at maturity will be par unless any underlying asset finishes below its 75% threshold level, in which case investors will be fully exposed to any losses of the worst performing stock.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management as a dealer.
Issuer: | UBS AG, London Branch
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Issue: | Contingent income autocallable securities
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Underlying assets: | Apple Inc., Amazon.com stock, Inc. and Alphabet Inc.
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Amount: | $5 million
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Maturity: | March 23, 2023
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Coupon: | 22% annualized, payable quarterly if each asset closes at or above its coupon barrier on the relevant determination date
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Price: | Par
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Payout at maturity: | If each asset finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of worst performing stock or stock
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Call: | At par if each component closes at or above its initial level on any quarterly observation period determination date other than the final one
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Initial levels: | $229.24 for Apple, $1,846.09 for Amazon.com and $1,068.21 for Alphabet
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Coupon barrier levels: | $160.47 for Apple, $1,292.26 for Amazon.com and $747.75 for Alphabet, 70% of initial levels
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Downside threshold levels: | $137.54 for Apple, $1,107.65 for Amazon.com and $640.93 for Alphabet, 60% of initial levels
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Pricing date: | March 20
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Settlement date: | March 25
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Underwriter: | UBS Securities LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.5%
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Cusip: | 90281J224
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