Published on 2/28/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.52 million capped buffer Gears linked to basket of five stocks
By Kiku Steinfeld
Chicago, March 1 – UBS AG London Branch priced $1.52 million of 0% capped buffer Gears due Feb. 22, 2023 linked to an equally weighted basket of five stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Hyatt Hotels Corp., Southwest Airlines Co., Clean Harbors, Inc., Las Vegas Sands Corp., Norwegian Cruise Line Holdings Ltd. and TripAdvisor, Inc.
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 37%.
If the basket falls by no more than 15%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the basket beyond the 15% buffer.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG London Branch
|
| Issue: | Capped buffer Gears
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| Underlying basket: | Hyatt Hotels Corp., Southwest Airlines Co., Clean Harbors, Inc., Las Vegas Sands Corp., Norwegian Cruise Line Holdings Ltd. and TripAdvisor, Inc.; equally weighted
|
| Amount: | $1,521,000
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| Maturity: | Feb. 22, 2023
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If basket finishes at or above its initial level, par plus 2 times return up to maximum return of par plus 37%; if basket falls by up to 15%, par; otherwise, 1% loss for each 1% decline of basket beyond the 15% buffer
|
| Initial levels: | $78.68 for Hyatt, $51.96 for Southwest, $57.46 for Vegas Sands, $25.19 for Norwegian, $37.29 for TripAdvisor
|
| Buffer level: | 85% of initial basket level
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 19
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.25%
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| Cusip: | 90276BQB2
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