Published on 8/30/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $255,000 buffer autocallable contingent yield notes on two ETFs
By Sarah Lizee
Olympia, Wash., Aug. 30 – UBS AG London Branch priced $255,000 of buffer autocallable contingent yield notes with memory interest due Aug. 31, 2022 linked to the lesser performing of the SPDR S&P Biotech ETF and the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9% if each asset closes at or above its 80% coupon barrier on the review date for that quarter, plus any previously unpaid coupons.
The notes will be called at par if each asset closes at or above 95% of its initial level on any monthly review date after six months.
The payout at maturity will be par unless either asset finishes below its 80% buffer level, in which case investors will be exposed to any losses of the worse performing asset beyond 20%.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Buffer autocallable contingent yield notes
|
| Underlying assets: | SPDR S&P Biotech ETF and VanEck Vectors Gold Miners ETF
|
| Amount: | $255,000
|
| Maturity: | Aug. 31, 2022
|
| Coupon: | 9%, payable monthly if each asset closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Call: | Notes will be called at par if each asset closes at or above its initial level on any monthly review date after six months
|
| Payout at maturity: | Par unless each asset closes below buffer level, in which case 1% loss for each 1% decline of lesser performing asset beyond buffer
|
| Initial levels: | $80.20 for biotech, $11.01 for oil
|
| Call thresholds: | $76.19 for biotech, $10.46 for oil; 95% of initial levels
|
| Coupon barriers: | $64.16 for biotech, $8.81 for oil; 80% of initial levels
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| Buffer levels: | $64.16 for biotech, $8.81 for oil; 80% of initial levels
|
| Pricing date: | Aug. 26
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| Settlement date: | Aug. 29
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.75%
|
| Cusip: | 90270KJ34
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