Published on 12/24/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $32.86 million contingent yield trigger autocallables on Nasdaq, Russell
By Cady Vishniac
Detroit, Dec. 24 – UBS AG, London Branch priced $32.86 million of trigger autocallable contingent yield notes due Dec. 21, 2023 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.15% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if both indexes close at or above their initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the coupon unless either index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
|
| Amount: | $32,864,120
|
| Maturity: | Dec. 21, 2023
|
| Coupon: | 7.15%, payable quarterly if each index closes at or above coupon barrier on related observation date
|
| Price: | Par of $10
|
| Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date after six months
|
| Payout at maturity: | Par plus coupon if each index finishes above downside threshold; otherwise 1% loss for each 1% decline of lesser-performing index from initial level
|
| Initial levels: | 12,738.18 for Nasdaq, 1,969.986 for Russell
|
| Coupon barriers: | 8,916.73 for Nasdaq, 1,378.990 for Russell, 70% of initial levels
|
| Downside thresholds: | 8,916.73 for Nasdaq, 1,378.990 for Russell, 70% of initial levels
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 22
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90278R593
|
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