Published on 11/24/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $15 million step down trigger autocallable notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Nov. 24 – UBS AG, London Branch priced $15 million of step down trigger autocallable notes due Nov. 22, 2023 linked to the lesser performing of 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 a 7% annualized call premium if each index closes at or above its initial level on the first annual observation date or if each index closes at or above its 65% downside threshold on the final observation date.
Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Step down trigger autocallable notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $15 million
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Maturity: | Nov. 22, 2023
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Coupon: | 0%
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Price: | Par of $10
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Call: | Automatically at par plus 7% annualized call premium if each index closes at or above its initial level on Nov. 21, 2022 or if each index closes at or above its 65% downside threshold on Nov. 17, 2023
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Payout at maturity: | If notes are not called, 1% loss for each 1% decline of lesser-performing index from initial level
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Initial levels: | 4,688.67 for S&P, 2,377.008 for Russell
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Downside thresholds: | 3,047.64 for S&P, 1,545.055 for Russell
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Pricing date: | Nov. 18
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Settlement date: | Nov. 23
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0%
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Cusip: | 90285D173
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