Published on 5/10/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.01 million capped market-linked notes on commodities basket
By Wendy Van Sickle
Columbus, Ohio, May 10 – UBS AG, London Branch priced $1.01 million of 0% capped market-linked notes due Nov. 9, 2023 linked to a weighted basket of commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the West Texas Intermediate light sweet crude oil futures, Brent crude oil futures, natural gas futures, corn futures, soybeans futures, wheat futures, the grade A copper spot price and the special high-grade zinc spot price, each with a 12.5% weight.
The payout at maturity will be par plus any gain in the basket, subject to a maximum payout of par plus 25%.
If the basket falls, investors will be exposed to the first 0.25% of the loss, with a minimum payout of 99.75%.
J.P. Morgan Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Capped market-linked notes
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| Underlying basket: | West Texas Intermediate light sweet crude oil futures, Brent crude oil futures, natural gas futures, corn futures, soybeans futures, wheat futures, grade A copper spot price and special high-grade zinc spot price, each with a 12.5% weight
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| Amount: | $1,005,000
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| Maturity: | Nov. 9, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any gain in basket up to 25%; if basket falls, exposure to first 0.25% of decline, with minimum payout of 99.75%
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| Initial levels: | $108.26 for WTI, $110.90 for Brent crude, $8.783 for natural gas, 803.75¢ for corn, 1,678.50¢ for soybeans, 1,096.00¢ for wheat, $9,541.00 for copper and $3,993.00 for zinc
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| Pricing date: | May 5
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| Settlement date: | May 10
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| Agents: | J.P. Morgan Securities LLC and UBS Investment Bank
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| Fees: | 0.75%
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| Cusip: | 90279FBW0
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