By William Gullotti
Buffalo, N.Y., Feb. 28 – UBS AG, London Branch priced $6.26 million of contingent income autocallable securities due April 28, 2022 linked to Hess Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will pay a contingent coupon of 10.75% annually, paid quarterly if the underlying stock closes at or above the downside threshold on any quarterly observation date.
If underlying stock closes at or above its initial price on any of the quarterly determination dates other than the final one, the securities will be redeemed at par plus the contingent payment.
If the underlying stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The agent is UBS Securities LLC. Morgan Stanley Wealth Management is being paid a fee to sell the notes.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Hess Corp.
|
| Amount: | $6,261,600
|
| Maturity: | April 28, 2022
|
| Coupon: | 10.75% per year, paid quarterly if underlying stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise, full exposure to any losses
|
| Call: | At par plus contingent payment if underlying stock closes at or above initial share price on any quarterly determination date other than the final one
|
| Initial share price: | $67.29
|
| Trigger level: | $47.10; 70% of initial price
|
| Pricing date: | April 23, 2021
|
| Settlement date: | April 28, 2021
|
| Agents: | UBS Securities LLC and Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 90278Y267
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
