Published on 2/28/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.75 million contingent income autocallable securities on two stocks
By William Gullotti
Buffalo, N.Y., Feb. 28 – UBS AG, London Branch priced $3.75 million of contingent income autocallable securities due April 26, 2024 linked to the common stocks of Lincoln National Corp. and MetLife, Inc., according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12% if each underlying stock closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the coupon due unless either underlying stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Lincoln National Corp. and MetLife, Inc.
|
| Amount: | $3,754,000
|
| Maturity: | April 26, 2024
|
| Coupon: | 12% annualized, payable quarterly if each stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each stock finishes at or above downside threshold, par plus coupon due; otherwise, 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus coupon if each stock closes at or above its initial level on any quarterly call date
|
| Initial levels: | $63.62 for Lincoln, $62.79 for MetLife
|
| Coupon barrier levels: | $47.72 for Lincoln, $47.09 for MetLife; 75% of initial levels
|
| Downside thresholds: | $47.72 for Lincoln, $47.09 for MetLife; 75% of initial levels
|
| Pricing date: | April 23, 2021
|
| Settlement date: | April 28, 2021
|
| Agent: | UBS Securities LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 90278Y275
|
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