Published on 3/29/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $5.98 million trigger callable contingent yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 29 – UBS AG, London Branch priced $5.98 million of trigger callable contingent yield notes due March 22, 2024 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each six months, the notes will pay a contingent coupon at the rate of 8.75% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period.
The notes will be callable at par of $10 plus any coupon on any semiannual observation date
If the notes are not called and each index finishes at or above its downside threshold level, 70% of its initial level, the payout at maturity will be par plus any final coupon. Otherwise, investors will lose 1% for every 1% decline of the least-performing index.
UBS Investment Bank is the agent, and UBS Financial Services Inc. is acting as dealer
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $5.98 million
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| Maturity: | March 22, 2024
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| Coupon: | 8.75% per year, payable semiannually if each index closes at or above its coupon barrier level on the observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless any index finishes below its downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
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| Call: | At par plus any coupon due on any semiannual call valuation date
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| Initial levels: | 2,287.545 for Russell, 3,913.1 for S&P
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| Coupon barriers: | 1,601.282 for Russell, 2,739.17 for S&P; 70% of initial levels
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| Downside thresholds: | 1,601.282 for Russell, 2,739.17 for S&P; 70% of initial levels
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| Pricing date: | March 19
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| Settlement date: | March 24
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| Agent: | UBS Investment Bank
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| Dealer: | UBS Financial Services Inc.
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| Fees: | 0%
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| Cusip: | 90276BSR5
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