Published on 4/11/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $24.12 million trigger callable contingent yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 11 – UBS AG, London Branch priced $24.12 million of trigger callable contingent yield notes with daily coupon observation due Oct. 10, 2024 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10.5% if each index’s closing level is at least 70% of its initial level every day that period.
The notes will be callable at par on any quarterly observation date.
If the notes are not called and each index finishes at or above its 55% trigger level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the least-performing index’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 with daily coupon observation
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $24,122,500
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| Maturity: | Oct. 10, 2024
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| Coupon: | 10.5% per year, payable quarterly if each index closes at or above its coupon barrier on every day that period
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any index finishes below its trigger level, in which case full exposure to the losses of the worst performing index
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| Call option: | At par on any quarterly observation date
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| Initial levels: | 14,531.81 for Nasdaq, 2,009.799 for Russell, 2,952.99 for Dow
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| Coupon barriers: | 10,172.27 for Nasdaq, 1,406.859 for Russell, 24,208.5 for Dow; 70% of initial levels
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| Trigger levels: | 7,992.5 for Nasdaq, 1,105.389 for Russell, 19,020.96 for Dow; 55% of initial levels
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| Pricing date: | April 7
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| Settlement date: | April 12
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 9026MP312
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