Published on 11/21/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.82 million capped gears linked to S&P
By Taylor Fox
New York, Nov. 23 – UBS AG, London Branch priced $1.82 million of 0% capped gears due Nov. 3, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus two times any index gain, up to a maximum return of par plus 15.5%.
Otherwise, investors will receive 1% for every 1% decline of the index.
UBS Securities LLC and UBS Investment Bank LLC are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Capped gears
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Underlying index: | S&P 500
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Amount: | $1,815,000
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Maturity: | Nov. 3, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus two times any index gain, up to a maximum return of par plus 15.5%; otherwise, 1% for every 1% decline of index
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Initial index level: | The lowest of the closing level between Oct. 30 and Dec. 2.
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Pricing date: | Oct. 30
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Settlement date: | Nov. 4
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 2.25%
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Cusip: | 90276BKJ1
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