Published on 10/26/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.22 million trigger callable contingent yield notes on index, fund
By Wendy Van Sickle
Columbus, Ohio, Oct. 26 – UBS AG, London Branch priced $3.22 million of trigger callable contingent yield notes due Oct. 24, 2024 linked to the performance of the Financial Select Sector SPDR fund and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual contingent coupon at an annual rate of 14.25% if each asset’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes will be callable at par on any semiannual observation date.
If the worst performer finishes above 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
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| Underlying assets: | Financial Select Sector SPDR fund, Nasdaq-100 asset
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| Amount: | $3,224,000
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| Maturity: | Oct. 24, 2025
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| Coupon: | 14.25% annual rate, payable semiannually if each asset closes at or above its coupon barrier on the relevant observation date
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| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above downside threshold level, par; otherwise, full exposure to the losses of the worst performing asset
|
| Call option: | At par on any semiannual observation date
|
| Initial levels: | $32.19 for Financial Select, 11,310.33 for Nasdaq
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| Coupon barrier levels: | $22.53 for Financial Select, 7,917.23 for Nasdaq; 70% of initial levels
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| Downside threshold levels: | $22.53 for Financial Select, 7,917.23 for Nasdaq; 70% of initial levels
|
| Pricing date: | Oct. 21
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| Settlement date: | Oct. 28
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 0%
|
| Cusip: | 90279FWN7
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