Published on 10/21/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $500,000 4.25% airbag yield notes tied to S&P
By Kiku Steinfeld
Chicago, Oct. 21 – UBS AG London Branch priced $500,000 of 4.25% airbag yield notes due Oct. 5, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the final level of the asset is greater than or equal to the downside threshold, 80% of its initial level, the payout will be par.
Otherwise, investors will lose 1.25% for every 1% decline of the asset beyond 20%.
UBS Securities LLC and UBS Investment Bank are the underwriters.
Issuer: | UBS AG London Branch
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Issue: | Airbag yield notes
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Underlying assets: | Nasdaq-100 index and S&P 500 index
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Amount: | $500,000
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Maturity: | Oct. 5, 2021
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Coupon: | 4.25%, payable quarterly
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Price: | Par
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Payout at maturity: | If the final level of asset is greater than or equal to the downside threshold, par; otherwise, investors will lose 1.25% for every 1% decline of the asset beyond 20%
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Initial levels: | 3,363.00 for S&P
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Buffer levels: | 2,690.40 for S&P; 80% of initial levels
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Underwriters: | UBS Securities LLC and UBS Investment Bank
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Fees: | None
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Cusip: | 90276BHX4
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