Published on 6/24/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $882,000 trigger autocallable contingent yield notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, June 24 – UBS AG, London Branch priced $882,000 of trigger autocallable contingent yield notes due June 18, 2026 linked to the least performing of the common stocks of DoorDash, Inc., Fastly Inc., MicroStrategy Inc. and Palantir Technologies Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 24.5% per year if the least-performing stock closes at or above its coupon barrier, 60% of its initial share price, on the observation date.
The notes will be automatically called at par if the least-performing stock closes at or above 90% of its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of the least-performing stock is greater than or equal to that stock’s downside threshold level, 50% of its initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing stock’s final share price is less than its initial share price.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying stocks: | DoorDash, Inc., Fastly Inc., MicroStrategy Inc. and Palantir Technologies Inc.
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Amount: | $882,000
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Maturity: | June 18, 2026
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Contingent coupon: | 24.5% annual rate, payable monthly if least-performing stock closes at or above coupon barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par unless least-performing stock finishes below downside threshold level, in which case 1% loss for each 1% that least-performing stock declines from initial price
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Call: | Automatically at par if least-performing stock closes at or above 90% of initial share price on any quarterly observation date
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Initial prices: | $158.85 for DoorDash, $54.53 for Fastly, $630.54 for MicroStrategy $24.41 for Palantir Technologies
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Coupon barriers: | $95.19 for DoorDash, $32.72 for Fastly, $378.32 for MicroStrategy $14.65 for Palantir Technologies ; 60% of initial prices
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Downside thresholds: | $79.33 for DoorDash, $27.27 for Fastly, $315.27 for MicroStrategy $12.21 for Palantir Technologies ; 50% of initial prices
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Pricing date: | June 15
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Settlement date: | June 18
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0.25%
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Cusip: | 90276BM59
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