Published on 5/17/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $5.91 million trigger callable contingent yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 17 – UBS AG, London Branch priced $5.91 million of trigger callable contingent yield notes due May 1, 2025 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period.
The notes will be callable at par of $10 plus any coupon on any quarterly observation date after six months.
If the notes are not called and each index finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par plus any final coupon. Otherwise, investors will lose 1% for every 1% decline of the least-performing index.
UBS Investment Bank is the agent, and UBS Financial Services Inc. is acting as dealer
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $5,908,000
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| Maturity: | May 1, 2025
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| Coupon: | 6% per year, payable quarterly if each index closes at or above its coupon barrier level on the observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless any index finishes below its downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
|
| Call: | At par plus any coupon due on any quarterly call valuation date after six months
|
| Initial levels: | 2,301.267 for Russell, 4,186.72 for S&P
|
| Coupon barriers: | 1,610.887 for Russell, 2,390.7 for S&P; 70% of initial levels
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| Downside thresholds: | 1,495.824 for Russell, 2,721.37 for S&P; 65% of initial levels
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agent: | UBS Investment Bank
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| Dealer: | UBS Financial Services Inc.
|
| Fees: | 2.75%
|
| Cusip: | 90276BXA6
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