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UBS plans trigger autocallable contingent yield notes tied to indexes
By Devika Patel
Knoxville, Tenn., Aug. 22 – UBS AG plans to price 0% trigger autocallable contingent yield notes due Aug. 31, 2020 linked to the S&P 500 index and the Euro Stoxx 50 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 between 6% and 7% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.
The notes will be called at par of $10 if each index closes at or above its initial level on any quarterly observation date beginning Feb. 28, 2018.
The payout at maturity will be par unless either index 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 index from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
The notes (Cusip: 90280X174) will price on Aug. 29 and settle on Aug. 31.
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