Published on 6/15/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5 million step-down trigger autocalls on stocks, index
By Sarah Lizee
Olympia, Wash., June 15 – UBS AG, London Branch priced $5 million of 0% step-down trigger autocallable notes due June 14, 2023 linked to the least performing of the common stock of Amazon.com, Inc., the common stock of Starbucks Corp. and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call return of 16.75% if each asset closes at or above its call threshold level on any annual observation date. For each asset, the call threshold level is 100% of its initial level on June 14, 2021 and June 9, 2022 and 60% of its initial level on the final valuation date.
If the notes are not called, investors will lose 1% for each 1% decline of the worse performing asset.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Step-down trigger autocallable notes
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| Underlying assets: | Amazon.com, Inc., Starbucks Corp. and Euro Stoxx Banks index
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| Amount: | $5 million
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| Maturity: | June 14, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | The notes will be called at par plus an annual call return of 16.75% if each asset closes at or above its call threshold level on any annual observation date; call threshold levels are equal to 100% of initial levels on June 14, 2021 and June 9, 2022 and to downside thresholds on June 9, 2023
|
| Payout at maturity: | 1% loss for each 1% decline of worse performing asset
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| Initial levels: | $2,600.86 for Amazon, $82.37 for Starbucks, 67.79 for index
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| Downside thresholds: | $1,560.52 for Amazon, $49.42 for Starbucks, 40.67 for index; 60% of initial levels
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| Strike date: | June 9
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| Pricing date: | June 10
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| Settlement date: | June 12
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1%
|
| Cusip: | 90281K247
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