Published on 5/20/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.66 million capped trigger gears on basket of 20 stocks
By Marisa Wong
Los Angeles, May 20 – UBS AG, London Branch priced $1.66 million of 0% capped trigger gears due May 16, 2024 linked to an equally weighted basket of 20 selected equities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the stocks of AbbVie Inc., Adobe Inc., American Electric Power Co., Inc., Air Products and Chemicals, Inc., Costco Wholesale Corp., Emerson Electric Co., EOG Resources, Inc., Meta Platforms, Inc., Alphabet Inc., Intercontinental Exchange, Inc., Johnson & Johnson, Coca-Cola Co., Lockheed Martin Corp., Lam Research Corp., McDonald’s Corp., Marsh & McLennan Cos., Inc., O’Reilly Automotive, Inc., Prologis, Inc., UnitedHealth Group Inc. and Visa Inc.
If the basket return is positive, the payout at maturity will be par plus 2 times the basket gain, up to a maximum payout of par plus 22.8%.
If the basket finishes flat or declines by no more than 20%, the payout will be par.
If the basket finishes below the 80% downside threshold, investors will lose 1% for every 1% that the basket declines from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Capped trigger gears
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Underlying stocks: | AbbVie Inc. (Symbol: ABBV), Adobe Inc. (Symbol: ADBE), American Electric Power Co., Inc. (Symbol: AEP), Air Products and Chemicals, Inc. (Symbol: APD), Costco Wholesale Corp. (Symbol: COST), Emerson Electric Co. (Symbol: EMR), EOG Resources, Inc. (Symbol: EOG), Meta Platforms, Inc. (Symbol: FB), Alphabet Inc. (Symbol: GOOGL), Intercontinental Exchange, Inc. (Symbol: ICE), Johnson & Johnson (Symbol: JNJ), Coca-Cola Co. (Symbol: KO), Lockheed Martin Corp. (Symbol: LMT), Lam Research Corp. (Symbol: LRCX), McDonald’s Corp. (Symbol: MCD), Marsh & McLennan Cos., Inc. (Symbol: MMC), O’Reilly Automotive, Inc. (Symbol: ORLY), Prologis, Inc. (Symbol: PLD), UnitedHealth Group Inc. (Symbol: UNH), Visa Inc. (Symbol: V); equally weighted
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Amount: | $1,662,000
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Maturity: | May 16, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2 times any basket gain, capped at par plus 22.8%; par if basket finishes flat or falls by up to 20%; otherwise, 1% loss for every 1% basket decline from its initial level
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Initial basket level: | 100
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Downside threshold: | 80% of initial basket level
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Initial share prices: | $153.50 for AbbVie, $405.45 for Adobe, $99.69 for American Electric, $233.71 for Air Products, $497.27 for Costco, $83.68 for Emerson, $124.28 for EOG, $198.62 for Meta, $2,321.01 for Alphabet, $98.27 for Intercontinental, $176.85 for Johnson & Johnson, $65.72 for Coca-Cola, $435.17 for Lockheed, $491.92 for Lam, $245.04 for McDonald’s, $159.95 for Marsh & McLennan, $635.62 for O’Reilly, $128.35 for Prologis, $485.40 for UnitedHealth, $199.23 for Visa
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Pricing date: | May 13
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Settlement date: | May 18
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 9026MP643
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