Published on 10/13/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.36 million phoenix autocallable notes on Apple, Bristol-Myers Squibb
By William Gullotti
Buffalo, N.Y., Oct. 13 – UBS AG, London Branch priced $5.36 million phoenix autocallable notes due Jan. 5, 2023 linked to the stock performance of Apple Inc. and Bristol-Myers Squibb Co., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above the trigger level, 60% of the initial level, on any monthly observation date, the notes will pay a contingent coupon at an annual rate of 8.2%.
The notes will be called at par plus the coupon if each stock closes at or above its initial share price on any observation date other than the final date.
The payout at maturity will be par plus the final coupon if each stock finishes at or above its trigger level. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial share price.
UBS Investment Bank and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Apple Inc., Bristol-Myers Squibb Co.
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| Amount: | $5,355,000
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| Maturity: | Jan. 5, 2023
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| Coupon: | 8.2% per year, if each stock closes at or above trigger level on monthly observation date
|
| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger level, par plus final coupon; otherwise, lose 1% for every 1% decline of worst performer from its initial share price
|
| Call: | At par plus coupon if each stock closes at or above initial level on any monthly observation date
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| Initial prices: | $142.2332 for Apple, $59.9438 for B-M S
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| Trigger levelss: | $85.34 for Apple, $35.97 for B-M S; 60% of initial price
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| Strike date: | Sept. 30
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| Pricing date: | Oct. 1
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| Settlement date: | Oct. 6
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| Placement agents: | UBS Investment Bank and J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 90279DKF2
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