Published on 11/15/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.08 million three-year capped trigger gears on S&P 500
By Taylor Fox
New York, Nov. 16 – UBS AG, London Branch priced $5.08 million of 0% capped trigger gears due Oct. 31, 2023 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 of $10 plus two times the index gain, capped at $12.88 per $10 of notes.
If the index declines, but not more than 25%, investors will receive par.
Otherwise, investors will lose 1% for every 1% that the index declines below the initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Capped trigger gears
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Underlying index: | S&P 500
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Amount: | $5,081,780
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Maturity: | Oct. 31, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus two times index gain up to $12.88 per $10 of notes; par if index declines, but not more than 25%; otherwise full exposure to losses
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Initial level: | 3,390.68
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Downside threshold: | 2,543.01, 75% of initial level
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Pricing date: | Oct. 27
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Settlement date: | Oct. 30
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.5%
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Cusip: | 90278R106
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