Published on 4/29/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $13.8 million contingent income autocalls on PayPal, Square
By Wendy Van Sickle
Columbus, Ohio, April 29 – UBS AG, London Branch priced $13.8 million of contingent income autocallable securities due April 26, 2024 linked to the shares of PayPal Holdings, Inc. and Square, Inc., according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.5% if each underlying stock closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus any coupon due unless either underlying stock finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | PayPal Holdings, Inc. and Square, Inc.
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| Amount: | $13,804,800
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| Maturity: | April 26, 2024
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| Coupon: | 14.5% annualized, payable quarterly if each stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above downside threshold, par plus any coupon due; otherwise, 1% loss for each 1% decline of worst performing stock
|
| Call: | At par if each stock closes at or above its initial level on any quarterly call date
|
| Initial levels: | $266.03 for PayPal, $246.43 for Square
|
| Coupon barrier levels: | $172.92 for PayPal, $160.18 for Square, 65% of initial levels
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| Downside thresholds: | $172.92 for PayPal, $160.18 for Square, 65% of initial levels
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| Pricing date: | April 23
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| Settlement date: | April 28
|
| Agent: | UBS Securities LLC with Morgan Stanley Wealth Management as a dealer
|
| Fees: | 2.5%
|
| Cusip: | 90278Y283
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