Published on 8/9/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.5 million airbag callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 9 – UBS AG, London Branch priced $1.5 million of airbag callable contingent yield notes due June 13, 2024 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly at an annualized rate of 15% if the least-performing index closes above its coupon barrier, 85% of the initial level, on the related observation date.
The notes will be callable at par on any quarterly observation date after six months.
The payout at maturity will be par unless the final level of the least performing index is less than the downside threshold, 85% of the initial level, in which case investors will lose 1.1765% for each 1% loss of the least-performing index beyond the downside threshold.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Airbag callable contingent yield notes
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $1.5 million
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| Maturity: | June 13, 2024
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| Coupon: | 15%, payable quarterly if least-performing index closes above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless final level least-performing index is less than downside threshold, in which case 1.1765% loss for each 1% loss of least-performing index beyond the downside threshold
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| Call option: | At par on any quarterly observation date after six months
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| Initial levels: | 13,810.86 for Nasdaq, 2,343.758 for Russell, 4,227.26 for S&P
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| Coupon barriers: | 11,739.23 for Nasdaq, 1,992.194 for Russell, 3,593.17 for S&P, 85% of initial level
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| downside thresholds: | 11,739.23 for Nasdaq, 1,992.194 for Russell, 3,593.17 for S&P, 85% of initial level
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| Strike date: | June 11
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| Pricing date: | June 14
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| Settlement date: | June 16
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90276BN74
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