Published on 6/13/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1 million airbag callable contingent yield notes on three indexes
By William Gullotti
Buffalo, N.Y., June 13 – UBS AG, London Branch priced $1 million of airbag callable contingent yield notes due June 7, 2023 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly at an annualized rate of 11% if the least-performing index closes at or above its coupon barrier, 75% of the initial level, on the related observation date.
The notes will be callable at par plus any coupon otherwise due on any monthly observation date after six months.
The payout at maturity will be par plus the final coupon unless the final level of the least performing index is less than the downside threshold, 75% of the initial level, in which case investors will lose 1.3333% for each 1% loss of the least-performing index beyond the downside threshold.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Airbag callable contingent yield notes
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index, Russell 2000 index
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| Amount: | $1 million
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| Maturity: | June 7, 2023
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| Coupon: | 11%, payable monthly if least-performing index closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless final level of least-performing index is less than downside threshold, in which case 1.3333% loss for each 1% loss of least-performing index beyond downside threshold
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| Call option: | At par plus any coupon otherwise due on any monthly observation date after six months
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| Initial levels: | 12,642.1 for Nasdaq, 1,864.043 for Russell, 4,132.15 for S&P
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| Coupon barriers: | 9,481.58 for Nasdaq, 1,398.032 for Russell, 3,099.11 for S&P; 75% of initial level
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| Downside thresholds: | 9,481.58 for Nasdaq, 1,398.032 for Russell, 3,099.11 for S&P; 75% of initial level
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| Pricing date: | May 31
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| Settlement date: | June 7
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.4%
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| Cusip: | 90279FFB2
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