Published on 5/25/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.14 million trigger autocallable contingent yield notes on three indexes
By William Gullotti
Buffalo, N.Y., May 25 – UBS AG, London Branch priced $3.14 million of trigger autocallable contingent yield notes due May 25, 2027 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 7% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any quarterly call observation date after one year.
If the notes are not called and the final level of each index is greater than or equal to the coupon barrier, the payout at maturity will be par.
If the worst performer finishes below its coupon barrier but at or above its downside threshold level, 55% of the initial level, the payout at maturity will be par. 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
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $3,141,000
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| Maturity: | May 25, 2027
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| Coupon: | 7% per year, paid quarterly, if each index closes at or above its coupon barrier on any related observation date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above coupon barrier, par plus final coupon; if worst performer finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline of laggard index from initial level
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly call observation date after one year
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| Initial levels: | 31,261.9 for Dow, 1,773.266 for Russell, 3,901.36 for S&P
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| Coupon barrier levels: | 21,883.33 for Dow, 1,241.286 for Russell, 2,730.95 for S&P; 70% of initial levels
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| Downside thresholds: | 17,194.05 for Dow, 975.296 for Russell, 2,145.75 for S&P; 55% of initial levels
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| Pricing date: | May 20
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| Settlement date: | May 25
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.25%
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| Cusip: | 90279FCN9
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