Published on 10/17/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.44 million contingent income autocallables tied to three indexes
By Sarah Lizee
Olympia, Wash., Oct. 17 – UBS AG London Branch priced $1.44 million of contingent income autocallable securities due Oct. 14, 2021 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 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 9% if each underlying asset closes at or above its 70% coupon barrier each day that quarter.
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 70% threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | UBS AG London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying assets: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $1,437,000
|
| Maturity: | Oct. 14, 2021
|
| Coupon: | 9% annualized, payable quarterly if each asset closes at or above its coupon barrier each day that quarter
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of worst performing index or index
|
| Call: | At par if each component closes at or above its initial level on any quarterly observation period end date other than the final one
|
| Initial levels: | 7,843.875 for Nasdaq, 1,511.900 for Russell and 2,970.27 for S&P
|
| Coupon barrier levels: | 5,490.713 for Nasdaq, 1,058.33 for Russell and 2,079.19 for S&P, 70% of initial levels
|
| Downside threshold levels: | 5,490.713 for Nasdaq, 1,058.33 for Russell and 2,079.19 for S&P, 70% of initial levels
|
| Pricing date: | Oct. 11
|
| Settlement date: | Oct. 17
|
| Underwriter: | UBS Securities LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 90270KR27
|
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