Published on 11/7/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $2.96 million trigger autocallable contingent yield notes on two ETFs
By Kiku Steinfeld
Chicago, Nov. 8 – UBS AG, London Branch priced $2.96 million of trigger autocallable contingent yield notes due Oct. 11, 2024 linked to the iShares Russell 2000 ETF and the Invesco S&P 500 Equal Weight ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6.27% per year if each ETF closes at or above the coupon barrier, 70% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par of $10 if each ETF closes at or above the initial level on any quarterly observation date after six months.
If the notes are not called and the final level 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 final level is less than the 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
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| Underlying ETFs: | iShares Russell 2000 ETF and Invesco S&P 500 Equal Weight ETF
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| Amount: | $2,964,190
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| Maturity: | Oct. 11, 2024
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| Contingent coupon: | 6.27% annual rate, payable quarterly if each ETF closes at or above coupon barrier level on related quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless ETF finishes below downside threshold level, in which case 1% loss for each 1% decline from initial price
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| Call: | Automatically at par if ETF closes at or above initial level on any quarterly observation date after six months
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| Initial price: | $221.58 for Russell, $153.10 for Invesco
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| Coupon barrier: | $155.11 for Russell, $107.17 for Invesco, 70% of initial price
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| Threshold level | $155.11 for Russell, $107.17 for Invesco, 70% of initial price
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| Pricing date: | Oct. 8
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| Settlement date: | Oct. 14
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90285B532
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