Published on 11/17/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.38 million trigger autocallable contingent yield notes on three stocks
By William Gullotti
Buffalo, N.Y., Nov. 17 – UBS AG, London Branch priced $1.38 million of trigger autocallable contingent yield notes due Aug. 8, 2024 linked to the least performing of the common stocks of Apple Inc., Amazon.com, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 15.5% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on the corresponding observation date.
The notes will be automatically called at par plus coupon if the shares of each stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the coupon barrier, the payout at maturity will be par.
If the worst performer finishes below its coupon barrier but at or above its downside threshold level, 50% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the worst performer is less than 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
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| Underlying stocks: | Apple Inc., Amazon.com, Inc., Tesla, Inc.
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| Amount: | $1,383,000
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| Maturity: | Aug. 8, 2024
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| Coupon: | 15.5% per year, paid monthly, if each stock closes at or above its coupon barrier on the related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above coupon barrier; if worst performer finishes below coupon barrier but not below downside threshold level, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | $146.95 for Apple, $3,354.72 for Amazon, $710.92 for Tesla
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| Coupon barrier levels: | $88.17 for Apple, $2,012.83 for Amazon, $426.55 for Tesla; 60% of initial levels
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| Downside thresholds: | $73.48 for Apple, $1,677.36 for Amazon, $355.46 for Tesla; 50% of initial levels
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| Pricing date: | Aug. 4
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| Settlement date: | Aug. 9
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279DCP9
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