Published on 11/14/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.47 million capped trigger gears on stock basket
By Taylor Fox
New York, Nov. 16 – UBS AG, London Branch priced $3.47 million of 0% capped trigger gears due Oct. 19, 2023 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of American Tower Corp., Crown Castle International Corp., Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Intel Corp., Juniper Networks, Inc., Nokia Corp. and SBA Communications Corp. Each stock has a 12.5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus two times the basket return, capped at par plus 36.8%.
Investors will receive par if the basket declines by 25% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 25%.
UBS Investment Bank and UBS Financial Services Inc. are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Capped trigger gears
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| Underlying basket: | American Tower Corp., Crown Castle International Corp., Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Intel Corp., Juniper Networks, Inc., Nokia Corp. and SBA Communications Corp. (each with a 12.5% weight)
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| Amount: | $3,473,530
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| Maturity: | Oct. 19, 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 any basket gain, capped at par plus 36.8%; par if basket declines by 25% or less; full exposure to basket’s decline from its initial level if it declines by more than 25%
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| Initial levels: | $242.72 for American Tower, $166.90 for Crown Castle, $40.16 for Cisco, $10.70 for Telefonaktiebolaget LM Ericsson, $54.16 for Intel, $22.43 for Juniper Networks, $4.03 for Nokia and $310.25 for SBA Communications
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| Downside threshold level: | 75% of initial level
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 21
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| Underwriters: | UBS Investment Bank, UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 90281M755
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