Published on 2/24/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.33 million trigger autocallable contingent yield notes on Ford, GM
By William Gullotti
Buffalo, N.Y., Feb. 24 – UBS AG, London Branch priced $1.33 million of trigger autocallable contingent yield notes due April 25, 2024 linked to the least performing of the common stocks of Ford Motor Co. and General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a coupon at the rate of 11.75% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on any related observation date.
The notes will be automatically called at par plus coupon if the shares of each stock close at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will receive shares of the least performing stock and cash paid in lieu of any fractional share.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stocks: | Ford Motor Co., General Motors Co.
|
| Amount: | $1,325,000
|
| Maturity: | April 25, 2024
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| Coupon: | 11.75% per year, paid monthly, if each stock closes at or above its coupon barrier on any related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below downside threshold level, in which case investors will receive shares of the least performing stock and cash paid in lieu of any fractional share
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | $11.73 for Ford, $57.49 for GM
|
| Coupon barrier levels: | $7.04 for Ford, $34.49 for GM; 60% of initial levels
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| Downside thresholds: | $7.04 for Ford, $34.49 for GM; 60% of initial levels
|
| Share delivery: | 85.2515 for Ford, 17.3943 for GM; totals per note
|
| Strike date: | April 21, 2021
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| Pricing date: | April 22, 2021
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| Settlement date: | April 26, 2021
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| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 1.7%
|
| Cusip: | 90276BA45
|
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