Published on 5/10/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.21 million trigger autocallable contingent yield notes with memory on indexes
By Wendy Van Sickle
Columbus, Ohio, May 10 – UBS AG, London Branch priced $1.21 million of trigger autocallable contingent yield notes with memory interest due May 11, 2027 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at the rate of 9.5% per year if each index closes at or above its coupon barrier, 70% of its initial level, on any related observation date. Coupon payment events will automatically include any previously unpaid coupons.
The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any monthly call observation date after six months.
If the notes are not called and each index finishes at or above its coupon barrier, the payout at maturity will be par plus all unpaid coupons.
Otherwise, investors will lose 1% for every 1% that the worst performer declines 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 autocallable contingent yield notes with memory interest
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $1,209,000
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| Maturity: | May 11, 2027
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| Coupon: | 9.5% per year, paid monthly, if each index closes at or above its coupon barrier on any related observation date; coupon payments will include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above coupon barrier level, par plus all unpaid coupons; otherwise, full exposure to decline of worst performer from its initial level
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on any monthly call observation date after six months
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| Initial levels: | 12,693.54 for Nasdaq, 1,839.565 for Russell, 4,123.34 for S&P
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| Coupon barrier levels: | 8,885.48 for Nasdaq, 1,287.696 for Russell, 2,886.34 for S&P; 70% of initial levels
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| Downside thresholds: | 8,885.48 for Nasdaq, 1,287.696 for Russell, 2,886.34 for S&P; 70% of initial levels
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| Pricing date: | May 6
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| Settlement date: | May 11
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.6%
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| Cusip: | 90279FCB5
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