By Angela McDaniels
Tacoma, Wash., May 14 – UBS AG, London Branch priced $4.64 million of 0% capped trigger absolute return securities due Aug. 12, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus the index return, subject to a maximum upside return of 7%.
If the index return is zero or negative and the final index level is greater than or equal to the downside threshold, 79% of the initial level, the payout will be par plus the absolute value of the index return.
If the final index level is less than the downside threshold, investors will lose 1% for every 1% that the index declines from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Capped trigger absolute return notes
|
| Underlying index: | S&P 500
|
| Amount: | $4.64 million
|
| Maturity: | Aug. 12, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive, par plus index return, subject to 7% maximum upside return; if index return is zero or negative and final index level is greater than or equal to downside threshold, par plus absolute value of index return; if final index level is less than downside threshold, 1% loss for every 1% that index declines from initial level
|
| Initial level: | 2,881.40
|
| Trigger level: | 2,276.31, or 79% of initial level
|
| Trade date: | May 10
|
| Settlement date: | May 15
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90281D219
|
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