Published on 8/18/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.22 million buffer autocallable contingent yield notes on two ETFs
By William Gullotti
Buffalo, N.Y., Aug. 18 – UBS AG London Branch priced $1.22 million of buffer autocallable contingent yield notes due May 16, 2024 linked to the lesser performing of the Energy Select Sector SPDR Fund and the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.75% if each ETF closes at or above its 75% coupon barrier on the corresponding review date.
The notes will be called at par plus coupon if each ETF closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par unless either ETF finishes below its 85% buffer level, in which case investors will be exposed to any losses of the worse performing ETF beyond 15%.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Buffer autocallable contingent yield notes
|
| Underlying ETFs: | Energy Select Sector SPDR Fund, VanEck Vectors Oil Services ETF
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| Amount: | $1,215,000
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| Maturity: | May 16, 2024
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| Coupon: | 9.75%, payable monthly if each ETF closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either ETF closes below buffer level, in which case 1% loss for each 1% decline of lesser performing ETF beyond buffer
|
| Call: | Automatically at par plus coupon if each ETF closes at or above its initial level on any quarterly review date after six months
|
| Initial level: | $49.42 for SPDR, $184.03 for VanEck
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| Coupon barriers: | $37.07 for SPDR, $138.02 for VanEck; 75% of initial levels
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| Buffer level: | $42.01 for SPDR, $156.43 for VanEck; 85% of initial levels
|
| Pricing date: | Aug. 13
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| Settlement date: | Aug. 18
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.75%
|
| Cusip: | 90279DCR5
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