Published on 7/1/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $10.4 million capped trigger gears on basket of four SPDR funds
By William Gullotti
Buffalo, N.Y., July 1 – UBS AG, London Branch priced $10.4 million of 0% capped trigger gears due June 30, 2023 linked to a basket of four equally weighted funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Financial Select Sector SPDR Fund, the Industrial Select Sector SPDR Fund, the Consumer Discretionary Select Sector SPDR Fund and the Energy Select Sector SPDR Fund.
If the basket return is positive, the payout at maturity will be par plus triple the basket return, up to a maximum payout of par plus 17%.
If the basket declines but not by more than 20%, the payout will be par.
If the basket finishes below the 80% downside threshold, investors will lose 1% for every 1% that the basket declines from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Capped trigger gears
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| Underlying funds: | Financial Select Sector SPDR Fund, Industrial Select Sector SPDR Fund, Consumer Discretionary Select Sector SPDR Fund, Energy Select Sector SPDR Fund; equally weighted
|
| Amount: | $10,395,000
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| Maturity: | June 30, 2023
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the basket return is positive, par plus three times the basket gain, capped at par plus 17%; if the basket declines by up to 20%, par; if the basket finishes below the downside threshold, 1% loss for every 1% that the basket declines from its initial level
|
| Downside threshold: | 80% of initial basket level
|
| Initial share prices: | $36.93 for Financial, $102.35 for Industrial, $177.93 for Consumer, $55.34 for Energy
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
|
| Cusip: | 90279B241
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