Published on 7/22/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $9.6 million capped trigger gears on basket of 10 stocks
By Wendy Van Sickle
Columbus, Ohio, July 22 – UBS AG, London Branch priced $9.6 million of 0% capped trigger gears due July 10, 2023 linked to a basket of 10 equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the stocks of Popular, Inc., Citigroup Inc., Devon Energy Corp., Dexcom, Inc., FedEx Corp., General Electric Co., Generac Holdings Inc., L Brands, Inc., United Airlines Holdings, Inc. and Uber Technologies Inc.
If the basket return is positive, the payout at maturity will be par plus double the basket return, up to a maximum payout of par plus 32.6%.
If the basket declines but not by more than 20%, the payout will be par.
If the basket finishes below the 80% downside threshold, investors will lose 1% for every 1% that the basket declines from its 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 stocks: | Popular, Inc. (Symbol: BPOP), Citigroup Inc. (Symbol: C), Devon Energy Corp. (Symbol: DVN), Dexcom, Inc. (Symbol: DXCM), FedEx Corp. (Symbol: FDX), General Electric Co. (Symbol: GE), Generac Holdings Inc. (Symbol: GNRC), L Brands, Inc. (Symbol: LB), United Airlines Holdings, Inc. (Symbol: UAL), Uber Technologies Inc. (Symbol: UBER); equally weighted
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| Amount: | $9,601,870
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| Maturity: | July 10, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the basket return is positive, par plus two times the basket gain, capped at par plus 32.6%; if the basket declines by up to 20%, par; if the basket finishes below the downside threshold, 1% loss for every 1% that the basket declines from its initial level
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| Downside threshold: | 80% of initial basket level
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| Initial share prices: | $73.30 for Popular, $68.45 for Citi, $26.65 for Devon, $441.42 for Dexcom, $296.08 for Dexcom, $12.76 for GE, $432.86 for Generac, $74.21 for L Brands, $47.71 for United, $56.42 for Uber
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| Pricing date: | July 15
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| Settlement date: | July 20
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90279B282
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