Published on 1/17/2019 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3 million step down trigger autocallables linked to Nasdaq, S&P
By Angela McDaniels
Tacoma, Wash., Jan. 17 – UBS AG, London Branch priced $3 million of 0% step down trigger autocallable notes due Jan. 20, 2022 linked to the lesser performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus 9.95% per year if each index closes at or above its call threshold level on any annual observation date. For each index, the call threshold level will be equal to the initial index level for the observation dates falling on Jan. 14, 2020 and Jan. 14, 2021 and 75% of the indexes’ respective initial index levels for the final observation date, Jan. 14, 2022.
If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold, 75% of its initial level, and investors will be exposed to the decline of the lesser-performing index from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Nasdaq-100 and S&P 500
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| Amount: | $3 million
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| Maturity: | Jan. 20, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Full exposure to decline of lesser-performing index from initial level
|
| Call: | At par plus 9.95% per year if each index closes at or above its call threshold level on any annual observation date
|
| Initial index levels: | 6,541.038 for Nasdaq-100 and 2,582.61 for S&P 500 (closing levels on Jan. 14)
|
| Downside thresholds: | 4,905.779 for Nasdaq-100 and 1,936.96 for S&P 500; 75% of initial levels
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| Call threshold levels: | Equal to initial index levels for Jan. 14, 2020 and Jan. 14, 2021 and equal to downside thresholds for Jan. 14, 2022
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 17
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1%
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| Cusip: | 90281C104
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