Published on 5/5/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.91 million trigger autocallable contingent yield notes on three indexes
Kiku Steinfeld
Chicago, May 5 – UBS AG, London Branch priced $1.91 million of trigger autocallable contingent yield notes due April 20, 2026 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 5.1% per year if the least-performing index closes at or above its coupon barrier, 70% of its initial share price, on any quarterly observation date.
The notes will be automatically called at par if the least-performing index closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of the least-performing index is greater than or equal to that index’s downside threshold level, 65% of its initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’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 indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $1.91 million
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| Maturity: | April 20, 2026
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| Contingent coupon: | 5.1% annual rate, payable quarterly if least-performing index 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 index finishes below downside threshold level, in which case 1% loss for each 1% that least-performing index declines from initial price
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| Call: | Automatically at par if least-performing index closes at or above initial share price on any quarterly observation date after six months
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| Initial prices: | 34,035.99 for Dow, 2,257.068 for Russell, 14,026.19 for Nasdaq
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| Coupon barriers: | 23,825.19 for Dow, 1,579.948 for Russell, 9,818.33 for Nasdaq; 70% of initial prices
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| Downside thresholds: | 22,123.39 for Dow, 1,467.094 for Russell, 9,117.02 for Nasdaq; 65% of initial prices
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| Pricing date: | April 15
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| Settlement date: | April 20
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.75%
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| Cusip: | 90276BXL2
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