Published on 12/30/2020 in the Prospect News Structured Products Daily.
New Issue: UBS sells $22.13 million trigger autocallable contingent yield notes on ETFs
By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – UBS AG, London Branch priced $22.13 million of trigger autocallable contingent yield notes due Dec. 29, 2023 linked to the Invesco QQQ Trust, series 1 and the Invesco S&P 500 Equal Weight ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.07% if each ETF closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be called at par if each ETF closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either ETF finishes below the 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing ETF.
UBS Financial Services Inc. is the distributor.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETFs: | Invesco QQQ Trust, series 1 and Invesco S&P 500 Equal Weight ETF
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| Amount: | $22,134.840
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| Maturity: | Dec. 29, 2023
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| Coupon: | 6.07%, payable quarterly if each ETF closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Call: | After six months, at par plus contingent coupon if each ETF closes at or above initial level on any quarterly observation date other than the final one
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| Payout at maturity: | Par unless either ETF finishes below trigger level, in which case full exposure to loss of worse-performing ETF
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| Initial levels: | $308.20 for QQQ, $125.84 for S&P
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| Coupon barrier level: | $215.74 for QQQ, $88.09 for S&P, 70% of initial levels
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| Trigger level: | $215.74 for QQQ, $88.09 for S&P, 70% of initial levels
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 29
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 90278R643
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