Published on 6/9/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $6.36 million trigger autocallable contingent yield notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., June 9 – UBS AG, London Branch priced $6.36 million of trigger autocallable contingent yield notes May 31, 2024 linked to the performance of the Technology Select Sector SPDR Fund, 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 quarterly coupon at the rate of 15% per year if each underlier closes at or above its coupon barrier, 74.5% of its initial level, on any related observation date.
The notes will be automatically called at par plus coupon if each underlier closes at or above its initial level on any quarterly call observation date.
If the notes are not called and the final level of each underlier is greater than or equal to the downside threshold level, 74.5% of the initial level, the payout at maturity will be par plus the final coupon.
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 assets: | Technology Select Sector SPDR Fund, Russell 2000 index, S&P 500 index
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| Amount: | $6,364,000
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| Maturity: | May 31, 2024
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| Coupon: | 15% per year, paid quarterly, if each underlier closes at or above its coupon barrier on any related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each underlier finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any quarterly call observation date
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| Initial levels: | $141.46 for ETF, 1,887.896 for Russell, 4,158.24 for S&P
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| Coupon barrier levels: | $105.39 for ETF, 1,406.483 for Russell, 3,097.89 for S&P; 74.5% of initial levels
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| Downside thresholds: | $105.39 for ETF, 1,406.483 for Russell, 3,097.89 for S&P; 74.5% of initial levels
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| Pricing date: | May 27
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| Settlement date: | June 3
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.75%
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| Cusip: | 90279FEU1
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