Published on 3/9/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $24.94 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, March 9 – UBS AG, London Branch priced $24.94 million of trigger autocallable contingent yield notes due March 8, 2024 linked to 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 8% 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 both indexes close above their initial levels on any quarterly observation date after six 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 Financial Services Inc. are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $24,937,980
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Maturity: | March 8, 2024
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Coupon: | 8%, 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 both indexes close above their initial levels on any quarterly observation date after six months
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Payout at maturity: | Par plus the coupon if both indexes finish above 70% of initial level; otherwise, 1% loss for each 1% decline of the worst performing index from initial level
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Initial levels: | 2,192.212 for Russell 2000, 3,841.94 for S&P 500
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Coupon barriers: | 1,534.548 for Russell 2000, 2,689.36 for S&P 500, 70% of initial levels
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Downside thresholds: | 1,534.548 for Russell 2000, 2,689.36 for S&P 500, 70% of initial levels
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Pricing date: | March 5
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Settlement date: | March 10
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Agents: | UBS Securities LLC and UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 90278X632
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