Published on 6/2/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.07 million trigger callable contingent yield notes on index, ETFs
By William Gullotti
Buffalo, N.Y., June 2 – UBS AG, London Branch priced $1.07 million of trigger callable contingent yield notes due June 1, 2027 linked to the worst performing of the Nasdaq-100 index, the Consumer Staples Select Sector SPDR Fund and the Health Care Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each underlier’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes may be callable at par on any quarterly observation date after one year.
If the notes are not called and each underlier finishes at or above its 60% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing underlier’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying assets: | Nasdaq-100 index, Consumer Staples Select Sector SPDR Fund, Health Care Select Sector SPDR Fund
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| Amount: | $1,065,000
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| Maturity: | June 1, 2027
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| Coupon: | 9% per year, payable quarterly if each underlier closes at or above its coupon barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par unless any underlier finishes below its trigger level, in which case full exposure to the losses of the worst performing underlier
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| Call option: | At par on any quarterly observation date after one year
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| Initial levels: | $74.14 for Consumer ETF, $131.83 for Health ETF, 12,276.79 for Nasdaq
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| Coupon barrier levels: | $51.90 for Consumer ETF, $92.28 for Health ETF, 8,593.75 for Nasdaq; 70% of initial levels
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| Knock-in levels: | $44.48 for Consumer ETF, $79.10 for Health ETF, 7,366.07 for Nasdaq; 60% of initial levels
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| Pricing date: | May 26
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| Settlement date: | May 31
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.5%
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| Cusip: | 90279FFC0
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