Published on 4/16/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.81 million trigger autocallable contingent yield notes on tech stocks
Chicago, April 16 – UBS AG, London Branch priced $5.81 million of trigger autocallable contingent yield notes due March 15,2024 linked to the least performing of the common stocks of Apple Inc., Amazon.com, Inc., the class C capital stock of Alphabet Inc. and the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 12.25% 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 period.
After one year, the notes will be automatically called at par if the shares of each stock close at or above the initial share price on any quarterly observation date other after six months.
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
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stocks: | Apple Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc.
|
| Amount: | $5,812,000
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| Maturity: | March 15, 2024
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| Contingent coupon: | 12.25%, payable monthly if each stock closes at or above coupon barrier level on observation date for that period
|
| Price: | Par
|
| 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
|
| Call: | After one year, automatically at par if each stock closes at or above initial level on any quarterly observation date after six months
|
| Initial prices: | $121.03 for Apple, $3,089.49 for Amazon, $2,061.92 for Alphabet and $518.02 of Netflix
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| Coupon barriers: | $72.62 for Apple, $1,853.69 for Amazon, $1,237.15 for Alphabet and $310.81 of Netflix, 60% of initial prices
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| Downside thresholds: | $72.62 for Apple, $1,853.69 for Amazon, $1,237.15 for Alphabet and $310.81 of Netflix, 60% of initial prices
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| Pricing date: | March 12
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| Settlement date: | March 17
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 3.5%
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| Cusip: | 90276BSJ3
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