Published on 12/15/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.04 million trigger return optimization notes on Industrial Select
By Kiku Steinfeld
Chicago, Dec. 15 – UBS AG, London Branch priced $1.04 million of trigger return optimization securities due March 16, 2022 linked to the Industrial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above the initial price, the payout at maturity will be par plus two times any fund gain capped at 14.7%.
If the fund falls by up to 15%, the payout will be par. If the fund finishes below the 85% trigger level, the payout will be par plus the fund return, with full exposure to losses.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger return optimization securities
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Underlying ETF: | Industrial Select Sector SPDR fund
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Amount: | $1,035,000
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Maturity: | March 16, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus two times any fund gain, capped at 14.7%; par if fund falls by up to 15%; if fund finishes below trigger level, par plus the fund return, with full exposure to losses
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Initial share price: | $88.77
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Trigger level: | $75.45, 85% of initial price
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Pricing date: | Dec. 11
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Settlement date: | Dec. 15
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.65%
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Cusip: | 90282N794
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