UBS plans contingent yield trigger autocallables tied to two stocks

By Susanna Moon

Chicago, Nov. 15 – UBS AG, London Branch plans to price 0% trigger autocallable contingent yield notes due Dec. 2, 2020 linked to the common stocks of Bank of America Corp. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.5% to 9.5% if each index closes at or above its 70% coupon barrier on the observation date for that quarter. The exact coupon rate will be set at pricing.

The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date after six months.

The payout at maturity will be par unless either index finishes below the 70% downside threshold, in which case investors will lose 1% for every 1% decline of the worse performing stock.

UBS Securities LLC and UBS Investment Bank are the bookrunners.

The notes will price on Nov. 27 and settle on Nov. 30.

The Cusip number is 90270KPB9.

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