Published on 12/26/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.53 million capped buffer Gears linked to stock basket
By Taylor Fox
New York, Dec. 30 – UBS AG London Branch priced $4.53 million of 0% capped buffer Gears due Dec. 20, 2022 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Assurant, Inc., Colfax Corp., Clean Harbors, Inc., Curtiss-Wright Corp., Devon Energy Corp., Encompass Health Corp., EOG Resources, Inc., Diamondback Energy, Inc., TechnipFMC plc, General Motors Co., HCA Healthcare, Inc., HP Inc., McKesson Corp., Oneok, Inc., Polaris Inc., PVH Corp., Pioneer Natural Resources Co., Regions Financial Corp., Reinsurance Group of America, Inc., Raytheon Technologies Corp., Signature Bank, Skechers USA, Inc., Steel Dynamics, Inc., TCF Financial Corp., Tenet Healthcare Corp., Universal Health Services, Inc. and Cimarex Energy Co.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 2 times the basket gain, up to a maximum return of par plus 24.4%.
If the basket falls by no more than 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the basket beyond the 10% buffer.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG London Branch
|
| Issue: | Capped buffer Gears
|
| Underlying basket: | Assurant, Inc., Colfax Corp., Clean Harbors, Inc., Curtiss-Wright Corp., Devon Energy Corp., Encompass Health Corp., EOG Resources, Inc., Diamondback Energy, Inc., TechnipFMC plc, General Motors Co., HCA Healthcare, Inc., HP Inc., McKesson Corp., Oneok, Inc., Polaris Inc., PVH Corp., Pioneer Natural Resources Co., Regions Financial Corp., Reinsurance Group of America, Inc., Raytheon Technologies Corp., Signature Bank, Skechers USA, Inc., Steel Dynamics, Inc., TCF Financial Corp., Tenet Healthcare Corp., Universal Health Services, Inc. and Cimarex Energy Co.
|
| Amount: | $4,525,700
|
| Maturity: | Dec. 20, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket finishes at or above its initial level, par plus 2 times return up to maximum return of par plus 24.4%; if basket falls by up to 10%, par; otherwise, 1% loss for each 1% decline of basket beyond the 10% buffer
|
| Initial levels: | $132.39 for Assurant, $36.68 for Colfax, $72.99 for Clean Harbors, $115.92 for Curtiss-Wright, $15.79 for Devon, $83.75 for Encompass, $53.16 for EOG, $48.16 for Diamondback, $9.96 for Technip, $41.66 for General Motors, $160.95 for HCA, $23.71 for HP, $173.08 for McKesson, $41.31 for Oneok, $96.07 for Polaris, $95.53 for PVH, $117.44 for Pioneer, $15.38 for Regions, $120.93 for Reinsurance, $71.04 for Raytheon, $131.08 for Signature, $35.82 for Skechers, $38.62 for Steel, $36.97 for TCF, $42.30 for Tenet, $135.67 for Universal and $39.22 for Cimarex
|
| Buffer level: | 90% of initial basket level
|
| Pricing date: | Dec. 15
|
| Settlement date: | Dec. 18
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90278R494
|
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