Published on 2/11/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1 million trigger autocallable contingent yield notes on three stocks
By William Gullotti
Buffalo, N.Y., Feb. 11 – UBS AG, London Branch priced $1 million of trigger autocallable contingent yield notes due April 20, 2023 linked to the least performing of the common stocks of Cisco Systems, Inc., Gilead Sciences, Inc. and Peloton Interactive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at the rate of 20.5% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on any related observation date.
The notes will be automatically called at par plus coupon if the shares of each stock close at or above its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive shares of the least performing stock.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying stocks: | Cisco Systems, Inc., Gilead Sciences, Inc., Peloton Interactive, Inc.
|
| Amount: | $1,000,000
|
| Maturity: | April 20, 2023
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| Coupon: | 20.5% per year, paid monthly, if each stock closes at or above its coupon barrier on any related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless any stock finishes below downside threshold level, in which case investors will receive shares of the least performing stock
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date
|
| Initial levels: | $52.80 for Cisco, $66.87 for Gilead, $116.21 for Peloton
|
| Coupon barrier levels: | $31.68 for Cisco, $40.12 for Gilead, $69.73 for Peloton; 60% of initial levels
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| Downside thresholds: | $31.68 for Cisco, $40.12 for Gilead, $69.73 for Peloton; 60% of initial levels
|
| Share delivery per note: | 18.9394 for Cisco, 14.9544 for Gilead, 8.6051 for Peloton
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| Strike date: | April 16, 2021
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| Pricing date: | April 19, 2021
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| Settlement date: | April 21, 2021
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
|
| Cusip: | 90276BZB2
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