Published on 7/9/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $274,958 15.55% trigger yield optimization notes linked to Skechers
New York, July 9 – UBS AG, London Branch priced $274,958.88 of 15.55% annualized trigger yield optimization notes due Oct. 15 linked to the common stock of Skechers U.SA, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is $27.74, which is equal to the initial share price of Skechers stock.
Interest is payable monthly.
The payout at maturity will be par unless the final price of Skechers stock is less than 68% of the initial share price, in which case investors will receive one Skechers share per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger yield optimization notes
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Underlying stock: | Skechers U.SA, Inc. (NYSE: SKX)
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Amount: | $274,958.88
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Maturity: | Oct. 15
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Coupon: | 15.55%, payable monthly
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Price: | Par of $27.74
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Payout at maturity: | If final share price is less than trigger price, one Skechers share; otherwise, par
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Initial share price: | $27.74
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Trigger price: | $18.86, 68% of initial price
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Pricing date: | July 9
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Settlement date: | July 13
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 0.35%
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Cusip: | 90289Q725
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