diff --git a/Cargo.lock b/Cargo.lock
index 8b193da0f9f..7a9d37e1aa1 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -33,9 +33,9 @@ checksum = "baf1de4339761588bc0619e3cbc0120ee582ebb74b53b4efbf79117bd2da40fd"
 
 [[package]]
 name = "crossbeam-channel"
-version = "0.5.5"
+version = "0.5.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4c02a4d71819009c192cf4872265391563fd6a84c81ff2c0f2a7026ca4c1d85c"
+checksum = "c2dd04ddaf88237dc3b8d8f9a3c1004b506b54b3313403944054d23c0870c521"
 dependencies = [
  "cfg-if",
  "crossbeam-utils",
@@ -43,9 +43,9 @@ dependencies = [
 
 [[package]]
 name = "crossbeam-deque"
-version = "0.8.1"
+version = "0.8.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "6455c0ca19f0d2fbf751b908d5c55c1f5cbc65e03c4225427254b46890bdde1e"
+checksum = "715e8152b692bba2d374b53d4875445368fdf21a94751410af607a5ac677d1fc"
 dependencies = [
  "cfg-if",
  "crossbeam-epoch",
@@ -54,9 +54,9 @@ dependencies = [
 
 [[package]]
 name = "crossbeam-epoch"
-version = "0.9.9"
+version = "0.9.10"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "07db9d94cbd326813772c968ccd25999e5f8ae22f4f8d1b11effa37ef6ce281d"
+checksum = "045ebe27666471bb549370b4b0b3e51b07f56325befa4284db65fc89c02511b1"
 dependencies = [
  "autocfg",
  "cfg-if",
@@ -68,9 +68,9 @@ dependencies = [
 
 [[package]]
 name = "crossbeam-utils"
-version = "0.8.9"
+version = "0.8.11"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8ff1f980957787286a554052d03c7aee98d99cc32e09f6d45f0a814133c87978"
+checksum = "51887d4adc7b564537b15adcfb307936f8075dfcd5f00dde9a9f1d29383682bc"
 dependencies = [
  "cfg-if",
  "once_cell",
@@ -78,9 +78,9 @@ dependencies = [
 
 [[package]]
 name = "either"
-version = "1.6.1"
+version = "1.7.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e78d4f1cc4ae33bbfc157ed5d5a5ef3bc29227303d595861deb238fcec4e9457"
+checksum = "3f107b87b6afc2a64fd13cac55fe06d6c8859f12d4b14cbcdd2c67d0976781be"
 
 [[package]]
 name = "getrandom"
@@ -247,9 +247,9 @@ dependencies = [
 
 [[package]]
 name = "once_cell"
-version = "1.12.0"
+version = "1.13.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7709cef83f0c1f58f666e746a08b21e0085f7440fa6a29cc194d68aac97a4225"
+checksum = "18a6dbe30758c9f83eb00cbea4ac95966305f5a7772f3f42ebfc7fc7eddbd8e1"
 
 [[package]]
 name = "parking_lot"
@@ -282,9 +282,9 @@ checksum = "eb9f9e6e233e5c4a35559a617bf40a4ec447db2e84c20b55a6f83167b7e57872"
 
 [[package]]
 name = "proc-macro2"
-version = "1.0.40"
+version = "1.0.41"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dd96a1e8ed2596c337f8eae5f24924ec83f5ad5ab21ea8e455d3566c69fbcaf7"
+checksum = "cdcc2916cde080c1876ff40292a396541241fe0072ef928cd76582e9ea5d60d2"
 dependencies = [
  "unicode-ident",
 ]
@@ -353,7 +353,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-terra"
-version = "0.21.0"
+version = "0.21.1"
 dependencies = [
  "ahash",
  "hashbrown",
@@ -459,9 +459,9 @@ dependencies = [
 
 [[package]]
 name = "redox_syscall"
-version = "0.2.13"
+version = "0.2.15"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "62f25bc4c7e55e0b0b7a1d43fb893f4fa1361d0abe38b9ce4f323c2adfe6ef42"
+checksum = "534cfe58d6a18cc17120fbf4635d53d14691c1fe4d951064df9bd326178d7d5a"
 dependencies = [
  "bitflags",
 ]
@@ -474,9 +474,9 @@ checksum = "d29ab0c6d3fc0ee92fe66e2d99f700eab17a8d57d1c1d3b748380fb20baa78cd"
 
 [[package]]
 name = "smallvec"
-version = "1.8.0"
+version = "1.9.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f2dd574626839106c320a323308629dcb1acfc96e32a8cba364ddc61ac23ee83"
+checksum = "2fd0db749597d91ff862fd1d55ea87f7855a744a8425a64695b6fca237d1dad1"
 
 [[package]]
 name = "syn"
@@ -497,9 +497,9 @@ checksum = "c02424087780c9b71cc96799eaeddff35af2bc513278cda5c99fc1f5d026d3c1"
 
 [[package]]
 name = "unicode-ident"
-version = "1.0.1"
+version = "1.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5bd2fe26506023ed7b5e1e315add59d6f584c621d037f9368fea9cfb988f368c"
+checksum = "15c61ba63f9235225a22310255a29b806b907c9b8c964bcbd0a2c70f3f2deea7"
 
 [[package]]
 name = "unindent"
diff --git a/Cargo.toml b/Cargo.toml
index d399ebe7403..058bfb9a278 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "qiskit-terra"
-version = "0.21.0"
+version = "0.21.1"
 edition = "2018"
 
 # See more keys and their definitions at https://doc.rust-lang.org/cargo/reference/manifest.html
diff --git a/docs/conf.py b/docs/conf.py
index c49a8675e72..a7bb7840f1f 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -23,7 +23,7 @@
 # The short X.Y version
 version = "0.21"
 # The full version, including alpha/beta/rc tags
-release = "0.21.0"
+release = "0.21.1"
 
 extensions = [
     "sphinx.ext.napoleon",
diff --git a/qiskit/VERSION.txt b/qiskit/VERSION.txt
index 885415662ff..a67cebaf7ff 100644
--- a/qiskit/VERSION.txt
+++ b/qiskit/VERSION.txt
@@ -1 +1 @@
-0.21.0
+0.21.1
diff --git a/releasenotes/notes/0.21/release-0.21.0-4a6c079c6301bde6.yaml b/releasenotes/notes/0.21/release-0.21.0-4a6c079c6301bde6.yaml
index 8f56ae4a492..94533676263 100644
--- a/releasenotes/notes/0.21/release-0.21.0-4a6c079c6301bde6.yaml
+++ b/releasenotes/notes/0.21/release-0.21.0-4a6c079c6301bde6.yaml
@@ -22,3 +22,27 @@ prelude: |
   Additionally, the transpiler has been improved to enable better quality
   outputs. This includes the introduction of new passes such as
   :class:`~.VF2PostLayout` and :class:`~.ToqmSwap`.
+upgrade:
+  - |
+    The preset pass managers generated by :func:`~.level_1_pass_manager`,
+    :func:`~.level_2_pass_manager`, and :func:`~.level_3_pass_manager` and used
+    by the :func:`~.transpile` function's ``optimization_level`` argument at
+    1, 2, and 3 respectively no longer set a hard time limit on the
+    :class:`~.VF2Layout` transpiler pass. This means that the pass will no
+    longer stop trying to find a better alternative perfect layout up until a
+    fixed time limit (100ms for level 1, 10 sec for level 2, and 60 sec for
+    level 3) as doing this limited the reproducibility of compilation when a
+    perfect layout was available. This means that the output when using the pass
+    might be different than before, although in all cases it would only change
+    if a lower noise set of qubits can be found over the previous output. If
+    you wish to retain the previous behavior you can create a custom
+    :class:`~.PassManager` that sets the ``time_limit`` argument on the
+    constructor for the :class:`~VF2Layout` pass.
+fixes:
+  - |
+    Fixed an issue with reproducibility of the :func:`~.transpile` function
+    when running with ``optimization_level`` 1, 2, and 3. Previously, under
+    some conditions when there were multiple perfect layouts (a layout that
+    doesn't require any SWAP gates) available the selected layout and output
+    circuit could vary regardless of whether the ``seed_transpiler`` argument
+    was set.
diff --git a/releasenotes/notes/0.21/remove-hard-time-limit-vf2-be83830ecc71f72c.yaml b/releasenotes/notes/0.21/remove-hard-time-limit-vf2-be83830ecc71f72c.yaml
deleted file mode 100644
index 4b73a6832fa..00000000000
--- a/releasenotes/notes/0.21/remove-hard-time-limit-vf2-be83830ecc71f72c.yaml
+++ /dev/null
@@ -1,25 +0,0 @@
----
-upgrade:
-  - |
-    The preset pass managers generated by :func:`~.level_1_pass_manager`,
-    :func:`~.level_2_pass_manager`, and :func:`~.level_3_pass_manager` and used
-    by the :func:`~.transpile` function's ``optimization_level`` argument at
-    1, 2, and 3 respectively no longer set a hard time limit on the
-    :class:`~.VF2Layout` transpiler pass. This means that the pass will no
-    longer stop trying to find a better alternative perfect layout up until a
-    fixed time limit (100ms for level 1, 10 sec for level 2, and 60 sec for
-    level 3) as doing this limited the reproducibility of compilation when a
-    perfect layout was available. This means that the output when using the pass
-    might be different than before, although in all cases it would only change
-    if a lower noise set of qubits can be found over the previous output. If
-    you wish to retain the previous behavior you can create a custom
-    :class:`~.PassManager` that sets the ``time_limit`` argument on the
-    constructor for the :class:`~VF2Layout` pass.
-fixes:
-  - |
-    Fixed an issue with reproducibility of the :func:`~.transpile` function
-    when running with ``optimization_level`` 1, 2, and 3. Previously, under
-    some conditions when there were multiple perfect layouts (a layout that
-    doesn't require any SWAP gates) available the selected layout and output
-    circuit could vary regardless of whether the ``seed_transpiler`` argument
-    was set.
diff --git a/releasenotes/notes/decompose-fix-993f7242eaa69407.yaml b/releasenotes/notes/decompose-fix-993f7242eaa69407.yaml
index 93f259266ef..443ab27e1de 100644
--- a/releasenotes/notes/decompose-fix-993f7242eaa69407.yaml
+++ b/releasenotes/notes/decompose-fix-993f7242eaa69407.yaml
@@ -1,4 +1,7 @@
 ---
 fixes:
-  - Fixed a bug in :meth:`.QuantumCircuit.decompose` that caused the
-    `gates_to_decompose` argument to be handled incorrectly.
\ No newline at end of file
+  - Fixed an issue in :meth:`.QuantumCircuit.decompose` method when
+    passing in a list of ``Gate`` classes for the ``gates_to_decompose``
+    argument. If any gates in the circuit had a label set this argument
+    wouldn't be handled correctly and caused the output decomposition to
+    incorrectly skip gates explicitly in the ``gates_to_decompose`` list.
diff --git a/releasenotes/notes/fix-pulse-limit_amplitude-72b8b501710fe3aa.yaml b/releasenotes/notes/fix-pulse-limit_amplitude-72b8b501710fe3aa.yaml
index c65b88a5e5b..d43642d336d 100644
--- a/releasenotes/notes/fix-pulse-limit_amplitude-72b8b501710fe3aa.yaml
+++ b/releasenotes/notes/fix-pulse-limit_amplitude-72b8b501710fe3aa.yaml
@@ -1,7 +1,9 @@
 ---
 fixes:
   - |
-    A bug that ``limit_amplitude`` set to an individual symbolic pulse or waveform instance
-    is not properly reflected to the parameter validation has been fixed.
-    In addition, QPY schedule ``dump`` has been fixed to save ``limit_amplitude`` value
-    tied to the instance, rather than saving the global class variable.
+    Fixed an issue where the ``limit_amplitude`` argument on an individual
+    :class:`~.SymbolicPulse` or :class:`~.Waveform` instance
+    was not properly reflected by parameter validation. In addition, QPY
+    schedule :func:`~qiskit.qpy.dump` has been fixed to correctly
+    store the ``limit_amplitude`` value tied to the instance, rather than
+    saving the global class variable.
diff --git a/releasenotes/notes/fix-zzmap-pairwise-5653395849fec454.yaml b/releasenotes/notes/fix-zzmap-pairwise-5653395849fec454.yaml
index e5c600dd70e..24dc33875a6 100644
--- a/releasenotes/notes/fix-zzmap-pairwise-5653395849fec454.yaml
+++ b/releasenotes/notes/fix-zzmap-pairwise-5653395849fec454.yaml
@@ -2,14 +2,17 @@
 fixes:
   - |
     Fix the pairwise entanglement structure for :class:`~.NLocal` circuits.
-    This led to a bug in the :class:`~.ZZFeatureMap`, where using `entanglement="pairwise"`
-    raised an error. Now it correctly produces the desired feature map::
+    This led to a bug in the :class:`~.ZZFeatureMap`, where using
+    ``entanglement="pairwise"`` raised an error. Now it correctly produces the
+    desired feature map::
 
       from qiskit.circuit.library import ZZFeatureMap
       encoding = ZZFeatureMap(4, entanglement="pairwise", reps=1)
       print(encoding.decompose().draw())
 
-    The above prints::
+    The above prints:
+
+    .. parsed-literal::
 
            ┌───┐┌─────────────┐
       q_0: ┤ H ├┤ P(2.0*x[0]) ├──■────────────────────────────────────■────────────────────────────────────────────
diff --git a/releasenotes/notes/global-phase-ucgate-cd61355e314a3e64.yaml b/releasenotes/notes/global-phase-ucgate-cd61355e314a3e64.yaml
index 536b66acfa6..30c240a3c6b 100644
--- a/releasenotes/notes/global-phase-ucgate-cd61355e314a3e64.yaml
+++ b/releasenotes/notes/global-phase-ucgate-cd61355e314a3e64.yaml
@@ -1,4 +1,4 @@
 ---
 fixes:
   - |
-    Fixed a global phase bug in :class:`~.UCGate`.
+    Fixed an issue in handling the global phase of the :class:`~.UCGate` class.
diff --git a/setup.py b/setup.py
index a9616d5301c..a524db3fc75 100755
--- a/setup.py
+++ b/setup.py
@@ -51,7 +51,7 @@
 
 setup(
     name="qiskit-terra",
-    version="0.21.0",
+    version="0.21.1",
     description="Software for developing quantum computing programs",
     long_description=README,
     long_description_content_type="text/markdown",