UBS to price trigger callable contingent yield notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Nov. 19 – UBS AG, London Branch plans to price trigger callable contingent yield notes due Nov. 25, 2024 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon if each index closes at or above its coupon barrier, 60% of its initial level, on the observation date that period. The contingent coupon rate is 6% per year.

The notes are callable on any coupon observation date at par plus any coupon.

If the notes are not called and each index finishes at or above its downside threshold, 60% 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.

The notes will price on Nov. 20.

The Cusip number is 90270KS75.

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