Published on 12/17/2019 in the Prospect News Structured Products Daily.
New Issue: UBS prices $16.6 million contingent income autocallables linked to Russell, S&P, Nasdaq
By Kiku Steinfeld
Chicago, Dec. 17 – UBS AG, London Branch priced $16.6 million of contingent income autocallable securities due Nov. 18, 2021 linked to the lesser performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.25% per year if each index closes at or above its downside threshold level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date other than the final one.
The payout at maturity will be par unless any index finishes below its 70% downside threshold level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
UBS Securities LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
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| Underlying indexes: | S&P 500, Nasdaq-100 and Russell 2000
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| Amount: | $16,603,000
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| Maturity: | Nov. 18, 2021
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| Coupon: | 7.25% per year, payable quarterly if each index closes at or above downside threshold level on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case exposure to decline of least-performing index
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly determination date other than final one
|
| Initial levels: | 8,315.523 for Nasdaq, 1,596.454 for Russell, 3,120.46 for S&P
|
| Downside threshold/coupon barriers: | 5,820.866 for Nasdaq, 1,117.518 for Russell, 2,184.32 for S&P; 70% of initial levels
|
| Pricing date: | Nov. 15
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| Settlement date: | Nov. 20
|
| Agent: | UBS Securities LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 90270KU56
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