Published on 7/30/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $500,000 airbag yield optimization notes on Prudential
By Marisa Wong
Los Angeles, July 30 – UBS AG, London Branch priced $500,000 of 11.02% annualized airbag yield optimization notes due Nov. 3, 2020 linked to the common stock of Prudential Financial, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable at maturity.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be an amount in cash equal to (a) the final share price times (b) $1,000 divided by the conversion price. The conversion price is 90% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Airbag yield optimization notes
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Underlying stock: | Prudential Financial, Inc. (Symbol: PRU)
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Amount: | $500,000
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Maturity: | Nov. 3, 2020
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Coupon: | 11.02% annualized, payable at maturity
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, amount in cash equal to (a) the final share price times (b) $1,000 divided by the conversion price; otherwise, par
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Initial share price: | $65.48
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Conversion price: | $58.93, 90% of initial price
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Pricing date: | July 29
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Settlement date: | July 31
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 0.7%
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Cusip: | 90281N159
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