Published on 7/16/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.75 million trigger callable contingent yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, July 16 – UBS AG, London Branch priced $3.75 million of trigger callable contingent yield notes due July 17, 2025 linked to the worst performing of the indexes of Nasdaq-100 index, 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 monthly contingent coupon at an annual rate of 7% if each index’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes will be callable at par on any monthly observation date after one year.
If the notes are not called and each index finishes at or above its 65% trigger level, the payout at maturity will be par plus any coupon due. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $3.75 million
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| Maturity: | July 17, 2025
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| Coupon: | 7% per year, payable monthly if each index closes at or above its coupon barrier on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due unless any index finishes below its trigger level, in which case full exposure to the losses of the worst performing index
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| Call option: | At par on any monthly observation date after one year
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| Initial levels: | 14,874.54 for Nasdaq, 2,238.864 for Russell, 4,369.21 for S&P
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| Coupon barrier levels: | 10,412.18 for Nasdaq, 1,567.205 for Russell, 3,058.45 for S&P; 70% of initial levels
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| Trigger levels: | 9,668.45 for Nasdaq, 1,455.262 for Russell, 2,839.99 for S&P; 65% of initial levels
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| Pricing date: | July 13
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| Settlement date: | July 16
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90276BY49
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