Published on 9/3/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.07 million trigger callable contingent yield notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Sept. 3 – UBS AG, London Branch priced $1.07 million of trigger callable contingent yield notes due June 21, 2024 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the Financial Select Sector SPDR fund , according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 5% if each underlier’s closing level is at least 60% of its initial level on the corresponding observation date.
The notes may be callable at par on any semiannual observation date other than the final.
If the notes are not called and each underlier finishes at or above its 60% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing underlier’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 assets: | Dow Jones industrial average, Russell 2000 index, Financial Select Sector SPDR fund
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| Amount: | $1,065,000
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| Maturity: | June 21, 2024
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| Coupon: | 5% per year, payable semiannually if each underlier closes at or above its coupon barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par unless any underlier finishes below its trigger level, in which case full exposure to the losses of the worst performing underlier
|
| Call option: | At par on any semiannual observation date other than the final
|
| Initial levels: | $35.23 for ETF, 2,237.745 for Russell, 33,290.08 for Dow
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| Coupon barrier levels: | $21.24 for ETF, 1,342.647 for Russell, 19,974.05 for Dow; 60% of initial levels
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| Knock-in levels: | $21.24 for ETF, 1,342.647 for Russell, 19,974.05 for Dow; 60% of initial levels
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| Pricing date: | June 18
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| Settlement date: | June 23
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90276BQ22
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