Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.69 million capped buffer Gears linked to basket of ten stocks
By William Gullotti
Buffalo, N.Y., Nov. 1 – UBS AG London Branch priced $3.69 million of 0% capped buffer Gears due Oct. 31, 2024 linked to an equally weighted basket of ten stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Arista Networks, Inc., CrowdStrike Holdings, Inc., CyberArk Software Ltd., DocuSign, Inc., Fortinet, Inc., Global Payments Inc., Mastercard Inc., Palo Alto Networks, Inc., Synchrony Financial and VMware, Inc.
If the basket finishes at or above its initial level, the payout at maturity will be par plus double the basket gain, up to a maximum return of par plus 33.5%.
If the basket falls by no more than 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the basket beyond the 10% buffer.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG London Branch
|
| Issue: | Capped buffer Gears
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| Underlying basket: | Arista Networks, Inc., CrowdStrike Holdings, Inc., CyberArk Software Ltd., DocuSign, Inc., Fortinet, Inc., Global Payments Inc., Mastercard Inc., Palo Alto Networks, Inc., Synchrony Financial, VMware, Inc.; equally weighted
|
| Amount: | $3,692,050
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| Maturity: | Oct. 31, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket finishes at or above its initial level, par plus two times return up to maximum return of par plus 33.5%; if basket falls by up to 10%, par; otherwise, 1% loss for each 1% decline of basket beyond the 10% buffer
|
| Initial levels: | $402.79 for Arista, $279.00 for CrowdStrike, $176.61 for CyberArk, $277.96 for DocuSign, $320.61 for Fortinet, $144.13 for Global, $335.72 for Mastercard, $493.28 for Palo Alto, $46.68 for Synchrony, $153.79 for VMware
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| Buffer level: | 90% of initial basket level
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 29
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2.5%
|
| Cusip: | 90285B714
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