Published on 10/14/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $3.41 million trigger autocallable contingent yield notes with memory on stocks
By Wendy Van Sickle
Columbus, Ohio, Oct. 14 – UBS AG, London Branch priced $3.41 million of trigger autocallable contingent yield notes with memory interest due July 26, 2024 linked to the least performing of the stocks of Advanced Micro Devices, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 11% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on any related observation date. Contingent coupon payments will include any previously unpaid coupons.
The notes will be automatically called at par plus the coupon 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, 60% of the initial share price, the payout at maturity will be par plus the final coupon and any previously unpaid coupons. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock 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 with memory interest
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Underlying stocks: | Advanced Micro Devices, Inc., Nvidia Corp.
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Amount: | $3,408,000
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Maturity: | July 26, 2024
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Coupon: | 11% per year, paid quarterly, if each stock closes at or above its coupon barrier on any related observation date; coupon payment events will include previously unpaid coupons, if any
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Price: | Par
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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
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Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date after six months
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Initial levels: | $92.15 for Advanced Micro Devices, $195.58 for Nvidia
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Coupon barrier levels: | $55.29 for Advanced Micro Devices, $117.35 for Nvidia; 60% of initial levels
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Downside thresholds: | $55.29 for Advanced Micro Devices, $117.35 for Nvidia; 60% of initial levels
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Pricing date: | July 23
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Settlement date: | July 28
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90279DBQ8
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