Published on 4/20/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $2.06 million step down trigger autocallable notes on Russell, S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, April 20 – UBS AG, London Branch priced $2.06 million of step down trigger autocallable notes due April 1, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 8.75% annualized call premium if all three indexes close above their initial levels on any quarterly observation after one year except the final observation date, for which the call level will be equal to the 75% downside threshold level.
The notes will be called at par plus the 26.25% final premium of all three indexes close above their downside threshold levels on the final call date.
If any index finishes below its downside threshold, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Step down trigger autocallable notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $2,058,000
|
| Maturity: | April 1, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 8.75% annualized call premium if all indexes close above initial level on any quarterly observation after one year except the final observation date, for which the call level will be equal to the downside threshold
|
| Payout at maturity: | Par plus 26.25% unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Initial levels: | 12,979.12 for Nasdaq, 3,974.54 for S&P, 2,221.482 for Russell
|
| Downside thresholds: | 9,734.34 for Nasdaq, 2,980.91 for S&P, 1,666.112 for Russell; 75% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 2.25%
|
| Cusip: | 90276BVA8
|
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