Published on 5/10/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $100,000 airbag yield optimization notes on United Airlines
By Marisa Wong
Los Angeles, May 10 – UBS AG, London Branch priced $100,000 of 8.11% annualized airbag yield optimization notes due March 24, 2022 linked to the common stock of United Airlines Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be an amount in cash equal to (a) the final share price times (b) $1,000 divided by the conversion price. The conversion price is 75% of the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Airbag yield optimization notes
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Underlying stock: | United Airlines Holdings, Inc. (Symbol: UAL)
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Amount: | $100,000
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Maturity: | March 24, 2022
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Coupon: | 8.11% annualized, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, amount in cash equal to (a) the final share price times (b) $1,000 divided by the conversion price; otherwise, par
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Initial share price: | $60.77
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Conversion price: | $45.58, 75% of initial price
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Pricing date: | March 19
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Settlement date: | March 23
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90285N635
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