Published on 1/22/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.02 million trigger autocallable contingent yield notes coupon on stocks
By Kiku Steinfeld
Chicago, Jan. 22 – UBS AG, London Branch priced $1.02 million of trigger autocallable contingent yield notes with memory interest due Jan. 19, 2024 linked to the common stocks of Amazon.com, Inc., salesforce.com, inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each stock closes at or above its coupon barrier level, 60% of its initial level, on the related quarterly observation date, in which case any previously unpaid coupons will also be paid.
The notes will be called at par of $10 plus the coupon and any previously unpaid coupons if each stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any stock finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the lesser performing stock from its initial level.
UBS Financial Services Inc. 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 stock: | Amazon.com, Inc., salesforce.com, inc. and JPMorgan Chase & Co.
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| Amount: | $1,023,000
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| Maturity: | Jan. 19, 2024
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| Coupon: | 10%, payable each quarter that each stock closes at or above coupon barrier on observation date for that quarter, in which case any previously unpaid coupons will also be paid
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| Price: | Par of $10
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| Call: | At par plus coupon any previously unpaid coupons if each stock closes at or above initial level on any quarterly observation date after six months
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| Payout at maturity: | Par unless each stock finishes below downside threshold, in which case 1% loss for each 1% decline of lesser performing stock from initial level
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| Initial levels: | $3,165.89 for Amazon, $218.18 for salesforce and $140.35 for JPMorgan Chase
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| Downside threshold/coupon barriers: | $1,899.53 for Amazon, $130.91 for salesforce and $84.21 for JPMorgan Chase; 60% of initial levels
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 19
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90276BMS9
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