Published on 8/24/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $33.99 million trigger autocallable contingent yield notes on 15 stocks
By Marisa Wong
Los Angeles, Aug. 24 – UBS AG, London Branch priced $33.99 million of trigger autocallable contingent yield notes due Aug. 25, 2026 linked to an equally weighted basket of 15 equity securities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Analog Devices, Inc., Albemarle Corp., Advanced Micro Devices, Inc., Aptiv plc, Ford Motor Co., General Motors Co., Microchip Technology Inc., Nvidia Corp., NXP Semiconductors NV, Plug Power Inc., Skyworks Solutions, Inc., TE Connectivity Ltd., Tesla, Inc., Texas Instruments Inc., Uber Technologies Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.08% if the basket closes at or above its 75% coupon barrier on the related quarterly observation date.
After six months, the notes will be called at par of $10 plus accrued interest if the basket closes at or above the initial basket level on any quarterly observation date prior to the final valuation date.
If the notes are not called, the payout at maturity will be par unless the final level of the basket is less than the 75% downside threshold, in which case investors will be fully exposed to the basket decline.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying stocks: | Analog Devices, Inc. (Symbol: ADI), Albemarle Corp. (Symbol: ALB), Advanced Micro Devices, Inc. (Symbol: AMD), Aptiv plc (Symbol: APTV), Ford Motor Co. (Symbol: F), General Motors Co. (Symbol: GM), Microchip Technology Inc. (Symbol: MCHP), Nvidia Corp. (Symbol: NVDA), NXP Semiconductors NV (Symbol: NXPI), Plug Power Inc. (Symbol: PLUG), Skyworks Solutions, Inc. (Symbol: SWKS), TE Connectivity Ltd. (Symbol: TEL), Tesla, Inc. (Symbol: TSLA), Texas Instruments Inc. (Symbol: TXN), Uber Technologies Inc. (Symbol: UBER); equally weighted
|
| Amount: | $33,986,720
|
| Maturity: | Aug. 25, 2026
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| Coupon: | 8.08% annualized, payable each quarter that basket closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless final basket level is less than downside threshold, in which case full exposure to losses
|
| Call: | Automatically at par plus contingent coupon if basket closes at or above initial level on any quarterly observation date after six months and prior to final valuation date
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| Initial share prices: | $166.64 for Analog, $219.68 for Albemarle, $104.65 for AMD, $154.65 for Aptiv, $12.57 for Ford, $48.80 for GM, $144.84 for Microchip, $208.16 for Nvidia, $205.00 for NXP, $24.23 for Plug, $178.88 for Skyworks, $148.06 for TE, $680.26 for Tesla, $184.97 for TI, $39.95 for Uber
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| Initial basket level: | 100
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| Coupon barrier: | 75% of initial level
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| Downside threshold: | 75% of initial level
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| Pricing date: | Aug. 20
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| Settlement date: | Aug. 25
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.25%
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| Cusip: | 90279B829
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