Published on 4/16/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $500,000 trigger autocallable contingent yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, April 16 – UBS AG, London Branch priced $500,000 of trigger autocallable contingent yield notes due April 3, 2024 linked to the stocks of Boeing Co., Capital One Financial Corp., Netflix, Inc. and Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 17.3% per year if the shares of each stock close at or above the coupon barrier level, 60% of the initial share price, on the observation date for that quarter.
After six months, the notes will be automatically called at par if the shares of each stock close at or above the initial share price on any observation date other than the final one.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% 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 least performing stock is less than the initial share price.
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: | Boeing Co., Capital One Financial Corp., Micron Technology, Inc., Netflix, Inc.
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Amount: | $500,000
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Maturity: | April 3, 2024
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Contingent coupon: | 17.3%, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
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Call: | After six months, automatically at par if each stock closes at or above initial level on any quarterly observation date other than the final one
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Initial prices: | $250.52 for Boeing, $162.49 for Capital One, $86.59 for Micron, $513.95 for Netflix
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Coupon barriers: | $150.31 for Boeing, $75.89 for Capital One, $51.95 for Micron, $308.37 for Netflix, 60% of initial prices
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Downside thresholds: | $150.31 for Boeing, $75.89 for Capital One, $51.95 for Micron, $308.37 for Netflix, 60% of initial prices
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Pricing date: | March 29
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Settlement date: | March 31
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 3.5%
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Cusip: | 90276BVZ3
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