Published on 6/9/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.51 million contingent income autocalls on Amazon, eBay
By Wendy Van Sickle
Columbus, Ohio, June 9 – UBS AG, London Branch priced $3.51 million of contingent income autocallable securities due May 17, 2024 linked to the shares of Amazon.com, Inc. and eBay Inc., according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.6% if each underlying stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus any coupon due unless either underlying stock finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Amazon.com, Inc. and eBay Inc.
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| Amount: | $3,505,000
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| Maturity: | May 17, 2024
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| Coupon: | 8.6% annualized, payable quarterly if each stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above downside threshold, par plus any coupon due; otherwise, 1% loss for each 1% decline of worst performing stock
|
| Call: | At par if each stock closes at or above its initial level on any quarterly call date
|
| Initial levels: | $3,222.90 for Amazon, $60.86 for eBay
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| Coupon barrier levels: | $2,256.03 for Amazon, $42.60 for eBay, 70% of initial levels
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| Downside thresholds: | $2,256.03 for Amazon, $42.60 for eBay, 70% of initial levels
|
| Pricing date: | May 14
|
| Settlement date: | May 19
|
| Agent: | UBS Securities LLC with Morgan Stanley Wealth Management as a dealer
|
| Fees: | 2.5%
|
| Cusip: | 90278Y283
|
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