Published on 1/2/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.46 million trigger autocallable contingent yield notes on United Rentals, Lennar, salesforce
By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – UBS AG, London Branch priced $1.46 million of trigger autocallable contingent yield notes with conditional threshold event due Jan. 3, 2024 linked to the common stocks of United Rentals, Inc., Lennar Corp. and salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if each stock closes at or above its coupon barrier level, 60% of its initial level, on the related quarterly observation date.
The notes will be called at par of $10 plus the coupon if each stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless no stock finishes above its initial level and any stock finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes with conditional threshold event
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| Underlying stocks: | United Rentals, Inc., Lennar Corp. and salesforce.com, inc.
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| Amount: | $1,463,000
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| Maturity: | Jan. 3, 2024
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| Coupon: | 11%, payable each quarter that each stock closes at or above coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Call: | At par plus coupon if each stock closes at or above initial level on any quarterly observation date after six months
|
| Payout at maturity: | Par unless no stock finishes above initial level and any stock finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
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| Initial share prices: | $224.64 for salesforce, $78.34 for Lennar, $226.99 for United Rentals
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| Downside threshold/coupon barrier levels: | $134.78 for salesforce, $47.00 for Lennar, $136.19 for United Rentals, 60% of initial level
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 31
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.5%
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| Cusip: | 90276BLU5
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