By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – UBS AG, London Branch priced $4.63 million of trigger autocallable contingent yield notes due Oct. 2, 2019 linked to the lesser performing of the SPDR S&P Regional Banking exchange-traded fund and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.6% if both ETFs close at or above their coupon barriers, 70% of their initial levels, on the observation date for that quarter.
The notes will be called at par if both ETFs close at or above their initial levels on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless either ETF finishes below the downside threshold level, 70% of the initial level, in which case investors will lose 1% for every 1% decline of the worse performing ETF.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETFs: | SPDR S&P Biotech exchange-traded fund and SPDR S&P Regional Banking exchange-traded fund
|
| Amount: | $4,632,000
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| Maturity: | Oct. 2, 2019
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| Coupon: | 10.6%, payable quarterly if both ETFs close at or above coupon barriers on quarterly observation date
|
| Price: | Par of $1,000
|
| Call: | At par if both ETFs close at or above their initial levels on any quarterly observation date
|
| Payout at maturity: | Par plus final coupon unless either ETF finishes below downside threshold level, in which case 1% loss for every 1% decline of the worse performing ETF
|
| Initial levels: | $84.47 for SPDR Biotech, $56.07 for Regional Banking
|
| Coupon barriers/downside thresholds: | $59.13 for SPDR Biotech, $39.25 for Regional Banking; 70% of initial levels
|
| Pricing date: | Sept. 27
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| Settlement date: | Sept. 29
|
| Underwriters: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 2.35%
|
| Cusip: | 90270KNC9
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