Published on 2/14/2019 in the Prospect News Structured Products Daily.
New Issue: UBS sells $5.51 million trigger callable contingent yield notes on three indexes
By Marisa Wong
Morgantown, W.Va., Feb. 14 – UBS AG, London Branch priced $5.51 million of trigger callable contingent yield securities due Feb. 11, 2021 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
For each quarter, the notes will pay a contingent coupon at an annual rate of 7.5% if each index’s closing level remains at or above its coupon barrier, 65% of its initial level, on each day that quarter.
The notes will be callable at par on each quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its 65% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield securities with daily coupon observation
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| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
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| Amount: | $5.51 million
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| Maturity: | Feb. 11, 2021
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| Coupon: | 7.5% per year, payable for each quarter that each index closes at or above its coupon barrier on each day that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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| Call option: | At par on each quarterly observation date
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| Initial index levels: | 6,913.130 for Nasdaq, 1,506.394 for Russell, 2,707.88 for S&P
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| Coupon barriers: | 4,493.535 for Nasdaq, 979.156 for Russell, 1,760.12 for S&P; 65% of initial levels
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| Trigger levels: | 4,493.535 for Nasdaq, 979.156 for Russell, 1,760.12 for S&P; 65% of initial levels
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 13
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| Agent: | UBS Financial Services Inc. with Morgan Stanley Wealth Management handling distribution
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| Fees: | 2%
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| Cusip: | 90270KXN4
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