Published on 9/7/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.02 million contingent income autocallables on three stocks
By William Gullotti
Buffalo, N.Y., Sept. 7 – UBS AG, London Branch priced $3.02 million of contingent income autocallable securities due Aug. 30, 2024 linked to the stock performance of MercadoLibre, Inc., Sea Ltd. and Shopify Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 15% if each stock finishes above its 60% coupon barrier on the corresponding observation date.
The notes will be called at par of $10 plus the contingent coupon if all stocks close at or above their respective initial share price on any quarterly determination date.
If all stocks finish at or above their respective downside threshold level, 60% of initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
UBS Securities LLC is the agent and Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | MercadoLibre, Inc., Sea Ltd., Shopify Inc.
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| Amount: | $3,021,000
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| Maturity: | Aug. 30, 2024
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| Coupon: | 15% per year, payable quarterly if all stocks close at or above coupon barrier level on the relevant observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon unless the worst performing stock finishes below downside threshold level, in which case investors will be exposed to the worst performer’s decline from its initial share price
|
| Call: | At par plus contingent coupon if all stocks close at or above initial share price on any quarterly determination date
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| Initial levels: | $1,865.00 for MercadoLibre, $321.03 for Sea, $1,531.42 for Shopify
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| Coupon barriers: | $1,119.00 for MercadoLibre, $192.62 for Sea, $918.85 for Shopify; 60% of initial share price
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| Downside thresholds: | $1,119.00 for MercadoLibre, $192.62 for Sea, $918.85 for Shopify; 60% of initial share price
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| Pricing date: | Aug. 27
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| Settlement date: | Sept. 1
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| Agent: | UBS Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 90285B144
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