Published on 11/14/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $125,000 airbag yield optimization notes linked to silver trust
By Taylor Fox
New York, Nov. 16 – UBS AG, London Branch priced $125,000 of 4.36% annualized airbag yield optimization notes due Oct. 26, 2022 linked to the shares of iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the 75% conversion price, in which case investors will receive an amount in cash equal to the final share price multiplied by the quotient of $1,000 divided by the conversion price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Airbag yield optimization notes
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Underlying stock: | iShares Silver Trust
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Amount: | $125,000
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Maturity: | Oct. 26, 2022
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Coupon: | 4.36% annualized, payable monthly
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Price: | Par
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Payout at maturity: | Par unless final share price is less than conversion price, in which case 1.3333% loss for every 1% that fund declines beyond 25%
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Initial share price: | $23.29
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Conversion price: | $17.47, 75% of initial price
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Pricing date: | Oct. 21
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Settlement date: | Oct. 23
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.75%
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Cusip: | 90282C285
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