Published on 5/16/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.89 million trigger callable contingent yield notes on Nasdaq, Russell, S&P
By William Gullotti
Buffalo, N.Y., May 17 – UBS AG, London Branch priced $1.89 million of trigger callable contingent yield notes due April 14, 2026 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6% if each index’s closing level is at least 55% of its initial level on the observation date for that quarter.
The notes will be callable at par plus coupon on any quarterly observation date after six months other than the final one.
If the notes are not called and each index finishes at or above its 55% downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’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 indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $1,885,000
|
| Maturity: | April 14, 2026
|
| Coupon: | 6% per year, payable quarterly if each index closes at or above its coupon barrier level on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its trigger level, in which case full exposure to the losses of the worst performing index
|
| Call option: | At par plus coupon on any quarterly observation after six months
|
| Initial levels: | 13,845.05 for Nasdaq, 2,243.474 for Russell, 4,128.8 for S&P
|
| Coupon barrier levels: | 7,614.78 for Nasdaq, 1,233.911 for Russell, 2,270.84 for S&P; 55% of initial levels
|
| Downside threshold levels: | 7,614.78 for Nasdaq, 1,233.911 for Russell, 2,270.84 for S&P; 55% of initial levels
|
| Pricing date: | April 9
|
| Settlement date: | April 14
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | None
|
| Cusip: | 90276BWJ8
|
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