Published on 6/10/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.32 million trigger callable yield notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 10 – UBS AG, London Branch priced $1.32 million of 3.25% trigger callable yield notes due May 18, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par of $10 on any quarterly call date after six months.
The payout at maturity will be par unless the index finishes below its 55% downside threshold level, in which case investors will lose 1% for each 1% decline of the index.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable yield notes
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Underlying index: | S&P 500 index
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Amount: | $1,315,000
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Maturity: | May 18, 2023
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Coupon: | 3.25% per year, payable quarterly
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Price: | Par of $10
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Payout at maturity: | Par unless index finishes below downside threshold, in which case 1% loss for each 1% decline of index
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Call option: | At par on any coupon date starting Nov. 15
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Initial level: | 4,173.85
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Downside threshold: | 2,295.62, 55% of initial level
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Pricing date: | May 14
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Settlement date: | May 19
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Underwriter: | UBS Financial Services Inc. and Barclays
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Fees: | 0.5%
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Cusip: | 90276BJ46
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