Published on 11/4/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.05 million trigger autocallable contingent yield notes on four stocks
By William Gullotti
Buffalo, N.Y., Nov. 4 – UBS AG, London Branch priced $2.05 million of trigger autocallable contingent yield notes due Nov. 3, 2026 linked to the least performing of the stocks of Meta Platforms, Inc., Netflix, Inc., Alphabet Inc. and Snap Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 18% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on the corresponding observation date.
The notes will be automatically called at par plus coupon if the shares of each stock closes at or above its initial share price on any monthly call observation date after three months.
If the notes are not called and the final share price of each stock is greater than or equal to its coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but not below its downside threshold level, 50% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the worst performer is less than its 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 stocks: | Meta Platforms, Inc., Netflix, Inc., Alphabet Inc., Snap Inc.
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| Amount: | $2.05 million
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| Maturity: | Nov. 3, 2026
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| Coupon: | 18% per year, paid monthly, if each stock closes at or above its coupon barrier on the related observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above coupon barrier, par plus final coupon; if worst performer finishes below coupon barrier but at or above downside threshold, par;otherwise, 1% loss for each 1% decline of laggard stock from initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly call observation date after three months
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| Initial levels: | $323.57 for Meta, $690.31 for Netflix, $2,965.41 for Alphabet, $52.58 for Snap
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| Coupon barrier levels: | $194.14 for Meta, $414.19 for Netflix, $1,779.25 for Alphabet, $31.55 for Snap; 60% of initial levels
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| Downside thresholds: | $161.79 for Meta, $345.16 for Netflix, $1,482.71 for Alphabet, $26.29 for Snap; 50% of initial levels
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| Pricing date: | Oct. 29
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| Settlement date: | Nov. 3
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.1%
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| Cusip: | 90279DNF9
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