Published on 4/14/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.56 million buffer callable contingent yield notes on S&P, Russell
By Kiku Steinfeld
Chicago, April 14 – UBS AG, London Branch priced $1.56 million of buffer callable contingent yield notes due Oct. 1, 2026 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 5% if each index closes at or above its 85% coupon barrier on the corresponding review date.
The notes are callable at par plus any coupon otherwise due on any quarterly observation date after one year.
The payout at maturity will be par plus the final coupon unless the lesser performing index falls by more than 15%, in which case investors will have exposure to the losses of the lesser performer beyond 15%
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Buffer callable contingent yield notes
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| Underlying assets: | S&P 500 index, Russell 2000 index
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| Amount: | $1.56 million
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| Maturity: | Oct. 1, 2026
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| Coupon: | 5% annual rate, payable monthly if each index closes at or above coupon barrier level on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless lesser performing index falls by more than 15%, in which case exposure to losses of lesser performer beyond 15%
|
| Call option: | At par plus any coupon due on any quarterly observation date after one year
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| Initial level: | 4,443.11 for S&P, 2,281.003 for Russell
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| Coupon barrier levels: | 3,776.64 for S&P, 1,938.853 for Russell; 85% of initial levels
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| Buffer levels: | 3,776.64 for S&P, 1,938.853 for Russell; 85% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 30
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.75%
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| Cusip: | 90279DHH2
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