Published on 11/16/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $15.4 million contingent income autocalls on two stocks
By Kiku Steinfeld
Chicago, Nov. 16 – UBS AG, London Branch priced $15.4 million of contingent income autocallable securities due Aug. 2, 2024 linked to the common stocks of Square, Inc. and PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 14% if each stock closes at or above its 70% coupon barrier on the corresponding observation date.
The notes will be called at par of $10 plus the contingent coupon if both stocks close at or above their initial levels on any quarterly determination date.
If the notes are not called and each stock finishes at or above its 70% final barrier level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the stock’s decline from its initial share price.
UBS Securities LLC is the agent and Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Square, Inc. and PayPal Holdings, Inc.
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| Amount: | $15,401,010
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| Maturity: | Aug. 2, 2024
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| Coupon: | 14% per year, payable quarterly if shares close at or above coupon barrier level on the relevant observation date
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| Price: | Par of $10
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| Payout at maturity: | If each stock finishes at or above its final barrier level; par; otherwise, exposure to decline of worst performer
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| Call: | At par plus contingent coupon if lowest performing stock closes at or above initial price on any quarterly determination date
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| Initial levels: | $275.53 for PayPal, $247.26 for Square
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| Coupon barriers: | $192.87 for PayPal, $173.08 for Square; 70% of initial share prices
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| Final barrier: | $192.87 for PayPal, $173.08 for Square; 70% of initial share prices
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Agent: | UBS Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 90279B555
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