Published on 4/17/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $11.97 million trigger autocallable contingent yield notes on basket of stocks
By Sarah Lizee
Olympia, Wash., April 17 – UBS AG, London Branch priced $11.97 million of trigger autocallable contingent yield notes due April 14, 2022 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are Apple Inc., Amazon.com, Inc., Alibaba Group Holding Ltd., Baidu, Inc., Facebook, Inc., Alphabet Inc., Netflix, Inc., Nvidia Corp., Tesla, Inc. and Twitter, Inc., each with a 10% weight.
The notes will pay a contingent quarterly coupon at an annual rate of 9.5% if the basket closes at or above its coupon barrier level, 60% of its initial level, on the related quarterly observation date.
The notes will be called at par of $10 plus the coupon if the basket closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the basket finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the basket from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying stocks: | Apple Inc., Amazon.com, Inc., Alibaba Group Holding Ltd., Baidu, Inc., Facebook, Inc., Alphabet Inc., Netflix, Inc., Nvidia Corp., Tesla, Inc. and Twitter, Inc., each with a 10% weight
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Amount: | $11,967,280
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Maturity: | April 14, 2022
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Coupon: | 9.5%, payable each quarter that basket closes at or above coupon barrier on observation date for that quarter
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Price: | Par of $10
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Call: | At par plus coupon if basket closes at or above initial level on any quarterly observation date after six months
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Payout at maturity: | Par unless basket finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
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Initial levels: | $267.99 for Apple, $2,042.76 for Amazon, $196.37 for Alibaba, $99.00 for Baidu, $175.19 for Facebook, $1,206.57 for Alphabet, $370.72 for Netflix, $262.95 for Nvidia, $573.00 for Tesla, $27.77 for Twitter
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Downside threshold/coupon barrier: | 60% of initial basket level
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Pricing date: | April 9
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Settlement date: | April 15
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90281J349
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