Published on 5/6/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.4 million trigger autocallable yield notes on three stocks
By William Gullotti
Buffalo, N.Y., May 6 – UBS AG, London Branch priced $2.4 million of trigger autocallable yield notes due April 20, 2023 linked to the least performing of the common stocks of PayPal Holdings, Inc., Square, Inc., and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at the rate of 9% per year.
The notes will be automatically called at par if the shares of each stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial share price, payable in shares of the worst performer.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable yield notes
|
| Underlying stocks: | PayPal Holdings, Inc., Square, Inc., and Visa Inc.
|
| Amount: | $2,400,000
|
| Maturity: | April 20, 2023
|
| Contingent coupon: | 9%, paid monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level, payable in shares of the worst performer
|
| Call: | Automatically at par due if each stock closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | $274 for PayPal, $263.08 for Square, $226.28 for Visa
|
| Downside thresholds: | $164.40 for PayPal, $157.85 for Square, $135.77 for Visa; 60% of initial levels
|
| Share delivery amounts: | 3.6496 for PayPal, 3.8011 for Square, 4.4193 for Visa
|
| Pricing date: | April 15
|
| Settlement date: | April 20
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 3.3435%
|
| Cusip: | 90276BXG3
|
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