Published on 12/8/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $4.5 million trigger return optimization notes on iShares Silver Trust
By Kiku Steinfeld
Chicago, Dec. 8 – UBS AG, London Branch priced $4.5 million of trigger return optimization securities due Nov. 30, 2022 linked to the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus five times the gain, capped at 49.64%.
If the fund return is zero or negative but the fund finishes at or above the 80% trigger level, the payout will be par. Otherwise, investors will share in any losses.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger return optimization securities
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Underlying fund: | iShares MSCI Silver Trust
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Amount: | $4.5 million
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Maturity: | Nov. 30, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus five times any fund gain, return capped at 49.64%; par if fund falls by up to 20%; otherwise, full exposure to any fund decline
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Initial price: | $21.72
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Trigger price: | $17.38, 80% of initial price
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Pricing date: | Nov. 25
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Settlement date: | Nov. 30
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90282J751
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