Published on 4/20/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $93,000 trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 20 – UBS AG, London Branch priced $93,000 of trigger autocallable contingent yield notes due April 4, 2024 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.5% per year if the shares of each index close at or above the coupon barrier level, 70% of the initial level, on the observation date for that quarter.
After six months, the notes will be automatically called at par if the shares of each index close at or above the initial level on any observation date other than the final one.
If the notes are not called and the final level of each index is greater than or equal to the downside threshold level, 60% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level of the least performing index is less than the initial level.
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 indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $93,000
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| Maturity: | April 4, 2024
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| Contingent coupon: | 7.5%, payable quarterly if each index 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 index finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard index from initial level
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| Call: | After six months, automatically at par if each index closes at or above initial level on any quarterly observation date other than the final one
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| Initial levels: | 2,220.519 for Russell, 3,972.89 for S&P
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| Coupon barriers: | 1,554.363 for Russell, 2,781.02 for S&P, 70% of initial levels
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| Downside thresholds: | 1,332.311 for Russell, 2,383.73 for S&P, 60% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 6
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90276BTQ6
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