By Sarah Lizee
Olympia, Wash., Oct. 25 – UBS AG London Branch priced $32.99 million of 0% bearish autocallable absolute return notes due Dec. 4, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If on any day during the life of the notes the index closes at less than 75% of the initial level, the notes will be automatically called at par.
If the notes are not called and the index closes at or above its initial level, the payout will be par.
If the notes are not called and the index falls by no more than 25%, the payout will be par plus the absolute value of the index return plus 5%. If the index declines by more than 25%, investors will receive par.
The underwriter is UBS Securities LLC.
| Issuer: | UBS AG London Branch
|
| Issue: | Bearish autocallable absolute return notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $32.99 million
|
| Maturity: | Dec. 4, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and the index closes at or above its initial level, par; if the notes are not called and the index falls by no more than 25%, par plus the absolute value of the index return plus 5%; if the index declines by more than 25%, par
|
| Call: | Automatically at par if on any day during life of the notes the index closes at less than 75% of initial level
|
| Initial level: | 2,995.99
|
| Pricing date: | Oct. 22
|
| Settlement date: | Oct. 29
|
| Underwriter: | UBS Securities LLC
|
| Fees: | 1.07%
|
| Cusip: | 90270KR68
|
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