Published on 3/15/2021 in the Prospect News Structured Products Daily.
New Issue: UBS prices $776,000 contingent absolute return autocallables linked to Snap
New York, March 15 – UBS AG, London Branch priced $776,000 of 0% contingent absolute return autocallable optimization securities due March 16, 2023 linked to the common stock of Snap Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 26.90% per year if Snap shares close at or above the initial share price on any observation date, which occurs every year.
If the notes are not called and Snap shares finish at or above the trigger price, 70% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Contingent absolute return autocallable optimization securities
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Underlying stock: | Snap Inc. (NYSE: SNAP)
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Amount: | $776,000
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Maturity: | March 16, 2023
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to share price decline
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Call: | Automatically at par plus 26.90% per year if Snap shares close at or above initial share price on any observation date, which occurs every year
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Initial share price: | $62.69
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Trigger price: | $43.88, 70% of initial price
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Pricing date: | March 12
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Settlement date: | March 16
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90285M629
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