Published on 10/3/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.71 million trigger callable contingent yield notes on two indexes, ETF
By William Gullotti
Buffalo, N.Y., Oct. 3 – UBS AG, London Branch priced $1.71 million of trigger callable contingent yield notes with daily close monitoring knock-in due Dec. 4, 2023 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 23% if each underlier’s closing level is at least 65% of its initial level on the relevant observation date.
The notes will be callable at par on any monthly observation date after six months.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 65% trigger level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes 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 with daily close monitoring knock-in
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index, VanEck Vectors Gold Miners ETF
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| Amount: | $1,707,000
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| Maturity: | Dec. 4, 2023
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| Coupon: | 23% per year, payable monthly if each underlier closes at or above its coupon barrier on the corresponding observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any underlier closes below its trigger level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call option: | At par on any monthly observation date after six months
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| Initial levels: | 12,484.32 for Nasdaq, 1,882.941 for Russell, $24.61 for ETF
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| Coupon barrier levels: | 8,114.81 for Nasdaq, 1,223.912 for Russell, $16.00 for ETF; 65% of initial levels
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| Trigger levels: | 8,114.81 for Nasdaq, 1,223.912 for Russell, $16.00 for ETF; 65% of initial levels
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| Pricing date: | Aug. 29
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| Settlement date: | Sept. 1
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279FRV5
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