Published on 12/1/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.06 million capped buffer gears linked SPDR S&P MidCap
By Kiku Steinfeld
Chicago, Dec. 1 – UBS AG, London Branch priced $4.06 million of 0% capped buffer gears due Nov. 17, 2022 linked to the SPDR S&P MidCap 400 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be two times any ETF gain, up to a maximum return of par of $10 plus 14.7%. Investors will receive par if the ETF falls by up to 10% and will lose 1% for every 1% decline of the ETF beyond 10%.
UBS Financial Services Inc. and UBS Investment Bank LLC are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Capped buffer gears
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Underlying ETF: | SPDR S&P MidCap 400 ETF
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Amount: | $4,057,750
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Maturity: | Nov. 17, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus two times any ETF gain, up to par plus 14.7% maximum return; par if ETF falls by up to 10%; 1% loss for every 1% decline of ETF beyond 10%
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Initial ETF level: | $385.62
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Threshold level: | $347.06; 90% of initial level
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Pricing date: | Nov. 13
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Settlement date: | Nov. 18
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90278R247
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