Published on 12/16/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $748,000 trigger autocallable contingent yield notes on sector funds
By Kiku Steinfeld
Chicago, Dec. 16 – UBS AG, London Branch priced $748,000 of trigger autocallable contingent yield notes due April 24, 2025 linked to the least performing of the Energy Select Sector SPDR Fund, the Financial Select Sector SPDR Fund and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 13.5% per year if the worst performer closes at or above its 70% coupon barrier on the related observation date.
The notes will be automatically called at par plus coupon if the worst performer closes at or above its level on any monthly observation date after six months.
If the notes are not called, the payout at maturity will be par if the worst performer finishes at or above the 65% downside threshold. Otherwise, investors will lose 1% for every 1% decline of the worst performer 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 ETFs: | Energy Select Sector SPDR Fund, Financial Select Sector SPDR Fund and Technology Select Sector SPDR Fund
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Amount: | $748,000
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Maturity: | April 24, 2025
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Coupon: | 13.5% per year, paid monthly, if each ETF closes at or above its coupon barrier on any related observation date
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Price: | Par
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Payout at maturity: | Par if final level of the worst performer is greater than or equal to downside threshold; otherwise, full exposure to losses of worst performer
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Call: | Automatically at par plus coupon if the worst performer closes at or above its initial level on any monthly observation date after six months
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Initial levels: | $81.02 for Energy, $37.11 for Financial, $147.12 for Technology
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Coupon barrier levels: | $56.71 for Energy, $25.98 for Financial, $102.98 for Technology; 70% of initial levels
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Downside thresholds: | $52.66 for Energy, $24.12 for Financial, $95.63 for Technology; 65% of initial levels
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Pricing date: | April 18
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Settlement date: | April 21
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0.25%
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Cusip: | 90279D5B8
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