Published on 7/15/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $500,000 airbag yield optimization notes on Tesla
By Kiku Steinfeld
Chicago, July 15 – UBS AG, London Branch priced $500,000 of 16.75% annualized airbag yield optimization notes due Oct. 16, 2020 linked to the common stock of Tesla Motors, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Tesla Motors shares equal to $1,000 divided by the conversion price. The conversion price is 60% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Airbag yield optimization notes
|
Underlying stock: | Tesla Motors, Inc. (Nasdaq: TSLA)
|
Amount: | $500,000
|
Maturity: | Oct. 16, 2020
|
Coupon: | 16.75% annualized, payable monthly
|
Price: | Par
|
Payout at maturity: | If final share price is less than conversion price, number of Tesla Motors shares equal to $1,000 divided by conversion price; otherwise, par
|
Initial share price: | $1497.06
|
Conversion price: | $898.24, 60% of initial price
|
Pricing date: | July 13
|
Settlement date: | July 15
|
Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | 0.7%
|
Cusip: | 90289R160
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.