Published on 5/8/2018 in the Prospect News Structured Products Daily.
New Issue: UBS sells $10.67 million trigger autocallable contingent yield notes on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, May 8 – UBS AG, London Branch priced $10.67 million of trigger autocallable contingent yield notes due April 28, 2028 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 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 7.1% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
After one year, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
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 indexes: | Euro Stoxx 50 index and Russell 2000 index
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Amount: | $10,669,300
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Maturity: | April 28, 2028
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Coupon: | 7.1%, payable quarterly if each index closes at or above coupon barrier on observation date
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Price: | Par of $10
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Call: | After one year, at par plus contingent coupon if both indexes close at or above initial levels on any quarterly observation date other than the final one
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Payout at maturity: | Par unless either index closes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
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Initial index levels: | 3,506.03 for S&P, 1,557.895 for Russell
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Coupon barriers: | 2,454.22 for S&P, 1,090.527 for Russell; 70% of initial levels
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Downside thresholds: | 1,753.02 for S&P, 778.948 for Russell; 50% of initial levels
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Pricing date: | April 26
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Settlement date: | April 30
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 3.5%
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Cusip: | 90281A165
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