Published on 4/14/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $7.07 million trigger callable contingent yield notes on indexes, fund
By Wendy Van Sickle
Columbus, Ohio, April 14 – UBS AG, London Branch priced $7.07 million of trigger callable contingent yield notes with daily close monitoring knock-in due July 10, 2023 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 17.8% if each asset’s closing level is at least 65% of its initial level on the relevant observation date.
The notes will be callable at par plus any coupon due on any quarterly call observation date after six months.
The payout at maturity will be par unless any index finishes below its initial level and any index has ever closed below its 65% trigger level any day during the life of the notes, in which case investors will lose 1% for each 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 callable contingent yield notes with daily close monitoring knock-in
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index, VanEck Gold Miners ETF
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| Amount: | $7,066,000
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| Maturity: | July 10, 2023
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| Coupon: | 17.8% per year, payable monthly if each asset closes at or above its coupon barrier level on the corresponding observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless any asset finishes below initial level and any asset has ever closed below trigger, in which case 1% loss for each 1% decline worst performer from initial level
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| Call option: | At par plus any coupon due on any quarterly call observation date after six months
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| Initial levels: | 14,820.64 for Nasdaq, 2,046.043 for Russell, $38.28 for fund
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| Coupon barrier levels: | 9,633.42 for Nasdaq, 1,329.928 for Russell, $24.88 for fund; 65% of initial levels
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| Trigger levels: | 9,633.42 for Nasdaq, 1,329.928 for Russell, $24.88 for fund; 65% of initial levels
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| Pricing date: | April 5
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| Settlement date: | April 8
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.65%
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| Cusip: | 90279D3U8
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