Published on 8/5/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.1 million trigger autocallable contingent yield notes with memory on indexes
By William Gullotti
Buffalo, N.Y., Aug. 5 – UBS AG, London Branch priced $1.1 million of trigger autocallable contingent yield notes with memory interest due June 12, 2025 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at the rate of 7.25% per year if each index closes at or above its coupon barrier, 80% of its initial level, on any related observation date. Any unpaid coupons will also be paid.
The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any quarterly call observation date after six months.
If the notes are not called and the final level of each index is greater than or equal to the downside threshold level, 70% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
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 indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $1,100,000
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Maturity: | June 12, 2025
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Coupon: | 7.25% per year, paid quarterly, if each index closes at or above its coupon barrier on any related observation date; coupon payments will include any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard index from initial level
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Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly call observation date after six months
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Initial levels: | 13,802.89 for Nasdaq, 2,319.177 for Russell, 4,226.52 for S&P
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Coupon barrier levels: | 11,042.31 for Nasdaq, 1,855.342 for Russell, 3,381.22 for S&P; 80% of initial levels
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Downside thresholds: | 9,662.02 for Nasdaq, 1,623.424 for Russell, 2,958.56 for S&P; 70% of initial levels
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Pricing date: | June 7
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Settlement date: | June 10
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0.25%
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Cusip: | 90276BN82
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