UILabel subclass - text cut off in bottom despite label being correct height

Turns out the problem was with

self.lineBreakMode = .ByClipping

changing it to

self.lineBreakMode = .ByCharWrapping

Solved the problem

I was facing the same issue with Helvetica Neue Condensed Bold font. Changing label's Baseline property from Align Baselines to Align Centers did the trick for me. You can change this easily in storyboard by selecting your label.