Published on 10/28/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $11.6 million trigger autocallable contingent yield notes on stock basket
By Wendy Van Sickle
Columbus, Ohio, Oct. 28 – UBS AG, London Branch priced $11.6 million of trigger autocallable contingent yield notes due July 31, 2024 linked to an equally weighted basket of four stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Affirm Holdings, Inc., Advanced Micro Devices, Inc., CrowdStrike Holdings, Inc. and Lucid Group, Inc.
The notes will pay a contingent monthly coupon at an annualized rate of 11.5% if the basket closes at or above its 70% coupon barrier on the related monthly observation date.
The notes will be called at par plus coupon if the basket closes at or above the initial basket level on any monthly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the final price of the basket is less than the 60% downside threshold, in which case investors will be fully exposed to the basket decline from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stocks: | Affirm Holdings, Inc., Advanced Micro Devices, Inc., CrowdStrike Holdings, Inc. and Lucid Group, Inc.; each with a 25% weight
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| Amount: | $11,603,000
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| Maturity: | July 31, 2024
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| Coupon: | 11.5% annualized, payable each month that basket closes at or above coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless final basket level is less than downside threshold, in which case full exposure to losses
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| Call: | Automatically at par plus coupon if basket closes at or above initial share price on any monthly observation date after six months
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| Initial share price: | $151.86 for Affirm, $122.93 for Advanced Micro Devices, $287.08 for CrowdStrike, $26.38 for Lucid Group
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| Coupon barrier: | 70% of initial level
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| Downside threshold: | 60% of initial level
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| Pricing date: | Oct. 22
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| Settlement date: | Oct. 27
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3%
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| Cusip: | 90279DLC8
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