Published on 8/28/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $21.97 million trigger gears on basket of telecom stocks
By Marisa Wong
Los Angeles, Aug. 28 – UBS AG, London Branch priced $21,972,580 of 0% trigger gears due Aug. 28, 2025 linked to an equally weighted basket of eight stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes American Tower Corp., Crown Castle International Corp., Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Intel Corp., Juniper Networks, Inc., Nokia Corp. and SBA Communications Corp., each with a 12.5% weight.
If the basket finishes above the initial level, the payout at maturity will be par of $10 plus 1.25 times the gain.
If the basket falls but finishes at or above the 75% downside threshold level, the payout will be par.
If the basket falls by more than 25%, investors will lose 1% for each 1% decline from the initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger gears
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| Underlying basket: | American Tower Corp. (Symbol: AMT), Crown Castle International Corp. (Symbol: CCI), Cisco Systems, Inc. (Symbol: CSCO), Telefonaktiebolaget LM Ericsson (Symbol: ERIC), Intel Corp. (Symbol: INTC), Juniper Networks, Inc. (Symbol: JNPR), Nokia Corp. (Symbol: NOK), SBA Communications Corp. (Symbol: SBAC); equally weighted
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| Amount: | $21,972,580
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| Maturity: | Aug. 28, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 1.25 times any basket gain; if the basket falls by up to 25%, par; otherwise, 1% loss for every 1% basket decline below the initial level
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| Initial prices: | $246.97 for American Tower, $160.97 for Crown Castle, $42.25 for Cisco, $12.01 for Ericsson, $49.55 for Intel, $24.11 for Juniper, $5.05 for Nokia, $303.46 for SBA
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.5%
|
| Cusip: | 90281M151
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