By Sarah Lizee
Olympia, Wash., Nov. 6 – UBS AG, London Branch priced $4.06 million of trigger autocallable contingent yield notes due Nov. 3, 2022 linked to the common stocks of BlackRock, Inc. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.4% per year if the shares of each stock close at or above the coupon barrier level, 60% of the initial share price, on the observation date for that quarter.
After six months, the notes will be automatically called at par if the shares of each stock close at or above the initial share price on any observation date other than the final one.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than the initial share price.
UBS Securities LLC 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 stock: | BlackRock, Inc. and Goldman Sachs Group, Inc.
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| Amount: | $4,061,000
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| Maturity: | Nov. 3, 2022
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| Contingent coupon: | 8.4%, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
|
| Call: | After six months, automatically at par if each stock closes at or above initial level on any quarterly observation date other than the final one
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| Initial price: | $466.16 for BlackRock and $217.64 for Goldman
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| Coupon barrier: | $279.70 for BlackRock and $130.58 for Goldman; 60% of initial levels
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| Downside threshold: | $279.70 for BlackRock and $130.58 for Goldman; 60% of initial levels
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| Pricing date: | Oct. 29
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| Settlement date: | Oct. 31
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90270KS83
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