Published on 9/10/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $149,971 8.71% trigger yield optimization notes on SPDR S&P Biotech
New York, Sept. 10 – UBS AG, London Branch priced $149,971.85 of 8.71% trigger yield optimization notes due Sept. 15, 2021 linked to the shares of SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is $104.51, which is equal to the initial share price of the ETF.
Interest is payable monthly.
The payout at maturity will be par unless the final price of the ETF is less than 80% of the initial share price, in which case investors will receive one ETF share per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger yield optimization notes
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Underlying ETF: | SPDR S&P Biotech ETF
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Amount: | $149,971.85
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Maturity: | Sept. 15, 2021
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Coupon: | 8.71%, payable monthly
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Price: | Par of $104.51
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Payout at maturity: | If final share price is less than trigger price, one share; otherwise, par
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Initial share price: | $104.51
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Trigger price: | $83.61, 80% of initial price
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Pricing date: | Sept. 10
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Settlement date: | Sept. 14
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.53%
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Cusip: | 90281U690
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