UBS plans trigger autocallable contingent yield notes on Nasdaq, S&P

By Sarah Lizee

Olympia, Wash., Oct. 10 – UBS AG, London Branch plans to price trigger autocallable contingent yield notes due Oct. 17, 2023 linked to the lesser performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.25% to 7.25% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.

After one year, 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 70% 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.

The notes will price on Oct. 12 and settle on Oct. 17.

The Cusip number is 90281B304.

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