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UBS plans dual directional buffered participation notes linked to S&P
By Angela McDaniels
Tacoma, Wash., Nov. 8 – UBS AG, London Branch plans to price 0% dual directional buffered participation securities due Dec. 3, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus the index return, subject to a maximum return of 16%.
If the index return is zero or negative but the index has declined by 10% or less, the payout will be par plus the absolute value of the index return.
If the index declines by more than 10%, investors will lose 1% for every 1% that the index declines beyond 10%.
UBS Securities LLC and Morgan Stanley & Co. LLC are the agents.
The notes will price Nov. 15.
The Cusip number is 90281E787.
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