Published on 12/10/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $7.57 million trigger autocallable contingent yield notes on tech stocks
Chicago, Dec. 10 – UBS AG, London Branch priced $7.57 million of 9% trigger autocallable contingent yield notes due March 31, 2023 linked to the least performing of the common stocks of Cisco Systems, Inc., Intel Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Coupons will be paid monthly.
The notes will be automatically called at par if the shares of each stock close 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 each stock is greater than or equal to the downside threshold level, 70% of the initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial level, payable in shares of the worst performer.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stocks: | Cisco Systems, Inc., Intel Corp. and Microsoft Corp.
|
| Amount: | $7,568,000
|
| Maturity: | March 31, 2023
|
| Coupon: | 9% per year, paid monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level, payable in shares of worst performer
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | $52.52 for Cisco, $64.50 for Intel, $235.24 for Microsoft
|
| Downside thresholds: | $36.76 for Cisco, $45.15 for Intel, $164.67 for Microsoft; 70% of initial levels
|
| Pricing date: | March 29
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| Settlement date: | March 31
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 3.35%
|
| Cusip: | 90276BVL4
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