Published on 7/10/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $825,000 contingent absolute return autocallables linked to State Street
New York, July 10 – UBS AG, London Branch priced $825,000 of 0% contingent absolute return autocallable optimization securities due July 14, 2022 linked to the common stock of State Street Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 17.62% per year if State Street shares close at or above the initial share price on any observation date, which occurs every two months.
If the notes are not called and State Street shares finish at or above the trigger price, 60% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Contingent absolute return autocallable optimization securities
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Underlying stock: | State Street Corp. (NYSE: STT)
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Amount: | $825,000
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Maturity: | July 14, 2022
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to share price decline
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Call: | Automatically at par plus 17.62% per year if State Street shares close at or above initial share price on any observation date, which occurs every two months
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Initial share price: | $64.12
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Trigger price: | $38.47, 60% of initial price
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Pricing date: | July 10
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Settlement date: | July 14
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90289R129
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