Published on 9/11/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $881,000 trigger callable contingent yield notes on Nasdaq
By Sarah Lizee
Olympia, Wash., Sept. 11 – UBS AG, London Branch priced $881,000 of trigger callable contingent yield notes due Sept. 8, 2023 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 5% per year if the index’s closing level is at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
After three months, the notes may be called at par plus any coupon on any monthly determination date other than the final determination date.
The payout at maturity will be par plus unless the index finishes at or below the downside threshold level, 60% of its initial level, in which case investors will lose 1% for every 1% loss of the index from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
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| Underlying index: | Nasdaq-100 index
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| Amount: | $881,000
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| Maturity: | Sept. 8, 2023
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| Coupon: | 5% annual rate, payable monthly if index closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Call: | After three months, callable at par plus any coupon on any monthly determination date other than final determination date
|
| Payout at maturity: | Par plus any final coupon unless index finishes below downside threshold, in which case 1% loss for each 1% decline of performing index
|
| Initial index level: | 11,622.13
|
| Coupon barrier: | 8,135.49; 70% of initial levels
|
| Downside threshold: | 6,973.28; 60% of initial levels
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| Pricing date: | Sept. 4
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| Settlement date: | Sept. 10
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90276BGK3
|
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