Published on 4/16/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.42 million trigger callable contingent yield notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, April 16 – UBS AG, London Branch priced $1.42 million of trigger callable contingent yield notes due April 1, 2024 linked to the worst performing of the stocks of Home Depot, Inc., Walt Disney Co. and the Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 10.5% if each stock’s closing level is at least 60% of its initial level on the observation date for that month.
The notes will be callable at par on any quarterly observation date other than the final one.
If the notes are not called and each stock finishes at or above its 50% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing stock’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying stocks: | Home Depot, Inc., Walt Disney Co. and Bank of America Corp.
|
| Amount: | $1,412,000
|
| Maturity: | April 1, 2024
|
| Coupon: | 10.5% per year, payable monthly if each stock closes at or above its coupon barrier level on the observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its trigger level, in which case full exposure to the losses of the worst performing stock
|
| Call option: | At par on any quarterly observation date other than the final date
|
| Initial levels: | $303.81 for Home Depot, $185.92 for Disney, $38.68 for Bank of America
|
| Coupon barrier levels: | $182.29 for Home Depot, $111.55 for Disney, $23.21 for Bank of America; 60% of initial levels
|
| Trigger levels: | $151.91 for Home Depot, $92.96 for Disney, $19.34 for Bank of America; 50% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 0.25%
|
| Cusip: | 90276BUX9
|
|
|
© 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.
