Published on 9/30/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $600,000 trigger callable contingent yield notes on BofA, FedEx, NIKE
By William Gullotti
Buffalo, N.Y., Sept. 30 – UBS AG, London Branch priced $600,000 of trigger callable contingent yield notes due July 12, 2024 linked to the worst performing of the stocks of Bank of America Corp., FedEx Corp. and NIKE, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if each stock’s closing level is at least 50% of its initial level on the relevant observation date.
The notes will be callable at par on any quarterly observation date after six months.
If the notes are not called and each stock finishes at or above its 50% trigger level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the least-performing stock’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying stocks: | Bank of America Corp., FedEx Corp., NIKE, Inc.
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| Amount: | $600,000
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| Maturity: | July 12, 2024
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| Coupon: | 7.5% per year, payable quarterly if each stock closes at or above its coupon barrier level on the observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any stock finishes below its trigger level, in which case full exposure to the losses of the worst performing stock
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| Call option: | At par on any quarterly observation date after six months
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| Initial levels: | $40.04 for BofA, $296.40 for FedEx, $161.00 for NIKE
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| Coupon barrier levels: | $20.02 for BofA, $148.20 for FedEx, $80.50 for NIKE; 50% of initial levels
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| Trigger levels: | $20.02 for BofA, $148.20 for FedEx, $80.50 for NIKE; 50% of initial levels
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| Pricing date: | July 9
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| Settlement date: | July 14
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.75%
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| Cusip: | 90279DBD7
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