Published on 3/14/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.63 million trigger autocallable contingent yield notes on stocks
By Kiku Steinfeld
Chicago, March 15 – UBS AG, London Branch priced $1.63 million of trigger autocallable contingent yield notes due March 2, 2026 linked to the least performing of the common stocks of Boeing Co., Raytheon Technologies Corp. and Snowflake 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 25% per year if the least-performing stock closes at or above its coupon barrier, 60% of its initial share price, on the observation date.
The notes will be automatically called at par if the least-performing stock closes at or above its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of the least-performing stock is greater than or equal to that stock’s downside threshold level, 50% of its initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing stock’s final share price is less than its initial share price.
UBS Financial Services Inc. 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 stock: | Boeing Co., Raytheon Technologies Corp. and Snowflake Inc.
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| Amount: | $1,630,000
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| Maturity: | March 2, 2026
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| Contingent coupon: | 25%, payable monthly if least-performing stock closes at or above coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below downside threshold level, in which case 1% loss for each 1% that least-performing stock declines from initial price
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| Call: | Automatically at par if least-performing stock closes at or above initial share price on any quarterly observation date
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| Initial price: | $216.45 for Boeing, $73.32 for Raytheon and $260.34 for Snowflake
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| Coupon barrier: | $129.87 for Boeing, $43.99 for Raytheon and $156.20 for Snowflake, 60% of initial price
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| Downside threshold: | $108.23 for Boeing, $36.66 for Raytheon and $130.17, 50% of initial price
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| Pricing date: | Feb. 25
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| Settlement date: | March 2
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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: | 90276BSF1
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