Published on 5/5/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.19 million trigger autocallable contingent yield notes on three stocks
Kiku Steinfeld
Chicago, May 5 – UBS AG, London Branch priced $1.19 million of trigger autocallable contingent yield notes due April 18, 2024 linked to the common stocks of American Airlines Group Inc., General Electric Co. and Royal Caribbean Cruises Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 23% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on any quarterly observation date.
The notes will be automatically called at par if the shares of each stock close at or above its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial share price.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stocks: | American Airlines Group Inc., General Electric Co. and Royal Caribbean Cruises Ltd.
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| Amount: | $1.19 million
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| Maturity: | April 18, 2024
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| Coupon: | 23% per year, paid quarterly, if each stock closes at or above its coupon barrier, 60% of its initial level, on any quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
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| Call: | Automatically at par if each stock closes at or above initial level on any quarterly call observation date
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| Initial levels: | $22.13 for American, $13.55 for GE, $84.50 for Royal
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| Downside thresholds: | $13.28 for American, $8.13 for GE, $50.70 for Royal; 60% of initial levels
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| Pricing date: | April 15
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| Settlement date: | April 20
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.75%
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| Cusip: | 90276BXV0
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