Published on 6/25/2021 in the Prospect News Structured Products Daily.
Correction: UBS sells $1.37 million trigger autocallable contingent yield notes on indexes
A story in the June 25 edition of the Prospect News Structured Products Daily, contains incorrect issuer information. A corrected version of the story follows:
By Wendy Van Sickle
Columbus, Ohio, June 25 – UBS AG, London Branch priced $1.37 million of trigger autocallable contingent yield notes due June 18, 2026 linked to 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.
The notes will pay a contingent quarterly coupon at an annual rate of 5% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if all three indexes close above their initial levels on any quarterly observation date after 12 months.
The payout at maturity will be par plus the coupon unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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 indexes: | Nasdaq-100 index, Russell 2000 index and the S&P 500 index
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Amount: | $1,372,000
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Maturity: | June 18, 2026
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Coupon: | 5%, payable quarterly if each index closes at or above coupon barrier on observation date
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Price: | Par of $10
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Call: | At par plus the coupon if all three indexes close above their initial levels on any quarterly observation date after 12 months
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Payout at maturity: | Par plus the coupon if all three indexes finish above 70% of initial level; otherwise, 1% loss for each 1% decline of the worse performing index from initial level
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Initial levels: | 14,030.41 for Nasdaq, 2,320.072 for Russell and 4,246.59 for S&P 500
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Coupon barriers: | 9,821.29 for Nasdaq, 1,624.05 for Russell and 2,972.61 for S&P 500, 70% of initial levels
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Downside thresholds: | 9,821.29 for Nasdaq, 1,624.05 for Russell and 2,972.61 for S&P 500, 70% of initial levels
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Pricing date: | June 15
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Settlement date: | June 18
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 4%
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Cusip: | 90276BR70
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