Published on 7/14/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.63 million capped buffer Gears linked to stock basket
By Wendy Van Sickle
Columbus, Ohio, July 14 – UBS AG London Branch priced $5.63 million of 0% capped buffer Gears due Nov. 30, 2022 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Alcoa Corp., ConocoPhillips, Deere & Co., Freeport-McMoRan Inc., FMC Corp., Barrick Gold Corp., Mosaic Co., Pioneer Natural Resources Co., Steel Dynamics, Inc. and Newmont Corp.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 2 times the basket gain, up to a maximum return of par plus 22.1%.
If the basket falls by no more than 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the basket beyond the 10% buffer.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG London Branch
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| Issue: | Capped buffer Gears
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| Underlying basket: | Alcoa Corp., ConocoPhillips, Deere & Co., Freeport-McMoRan Inc., FMC Corp., Barrick Gold Corp., Mosaic Co., Pioneer Natural Resources Co., Steel Dynamics, Inc., Newmont Corp., each with a 10% weight
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| Amount: | $5,632,000
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| Maturity: | Nov. 30, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket finishes at or above its initial level, par plus 2 times return up to maximum return of par plus 22.1%; if basket falls by up to 10%, par; otherwise, 1% loss for each 1% decline of basket beyond the 10% buffer
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| Initial levels: | $35.15 for Alcoa, $54.88 for ConocoPhillips, $360.69 for Deere, $40.68 for Freeport-McMoRan, $115.55 for FMC, $24.58 for Barrick Gold, $34.77 for Mosaic, $60.18 for Steel, $148.32 for Pioneer, $73.20 for Newmont
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| Buffer level: | 90% of initial basket level
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| Pricing date: | May 25
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| Settlement date: | May 28
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90278Y622
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