New York, Dec. 31 – UBS AG, London Branch priced $500,000 of trigger phoenix autocallable optimization securities due Jan. 6, 2020 linked to the shares of SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If SPDR S&P 500 ETF stock closes at or above the trigger price – 74% of the initial share price – on a half yearly observation date, the issuer will pay a contingent coupon for that half year at the rate of 5.82%. Otherwise, no coupon will be paid that half year.
If the shares close at or above the initial price on a half yearly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and SPDR S&P 500 ETF shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | SPDR S&P 500 ETF Trust
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| Amount: | $500,000
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| Maturity: | Jan. 6, 2020
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| Coupon: | 5.82%, payable half yearly if stock closes at or above trigger price on observation date for that half year
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if SPDR S&P 500 ETF shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if SPDR S&P 500 ETF shares close at or above initial price on a half yearly observation date
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| Initial share price: | $249.92
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| Trigger price: | $184.94, 74% of initial price
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| Pricing date: | Dec. 31
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| Settlement date: | Jan. 3, 2019
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90286M768
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