Published on 4/8/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $8 million capped trigger gears on basket of eight stocks
By Wendy Van Sickle
Columbus, Ohio, April 8 – UBS AG, London Branch priced $8 million of 0% capped trigger gears due March 28, 2024 linked to a basket of eight equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the stocks of American Express Co., Capital One Financial Corp., Discover Financial Services, Fidelity National Information Services, Inc., Mastercard Inc., PayPal Holdings, Inc., Synchrony Financial and Visa Inc.
If the basket return is positive, the payout at maturity will be par plus 2 times the basket return, up to a maximum payout of par plus 38.5%.
If the basket declines but not by more than 25%, the payout will be par.
If the basket finishes below the 75% 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: | American Express Co. (Symbol: AXP), Capital One Financial Corp. (Symbol: COF), Discover Financial Services (Symbol: DFS), Fidelity National Information Services, Inc. (Symbol: FIS), Mastercard Inc. (Symbol: MA), PayPal Holdings, Inc. (Symbol: PYPL), Synchrony Financial (Symbol: SYFl) and Visa Inc. (Symbol: V); equally weighted
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| Amount: | $8,002,850
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| Maturity: | March 28, 2024
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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 2 times the basket gain, capped at par plus 38.5%; if the basket declines by up to 25%, 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: | 75% of initial basket level
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| Initial share prices: | $143.73 for AmEx, $129.59 for Capital One Financial, $96.96 for Discover, $117.65 for Fidelity National, $19.13 for Mastercard, $241.03 for PayPal, $41.32 for Synchrony Financial, $213.53 for Visa
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| Pricing date: | March 26
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| Settlement date: | March 31
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90278X665
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