Published on 9/19/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $560,000 trigger callable contingent yield notes with daily close monitoring
By Kiku Steinfeld
Chicago, Sept. 19 – UBS AG, London Branch priced $560,000 of trigger callable contingent yield notes with daily close monitoring knock-in due May 3, 2023 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 18.5% if each asset’s closing level is at least 65% of its initial level on any monthly observation date.
The notes are callable at par plus any coupon otherwise due on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless any asset finishes below its initial level and any asset closes below its 65% knock-in level on any day during the life of the notes, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes with daily close monitoring knock-in
|
| Underlying assets: | Nasdaq-100 index, Russell 2000 index, VanEck Gold Miners ETF
|
| Amount: | $560,000
|
| Maturity: | May 3, 2023
|
| Coupon: | 18.5% per year, payable monthly if each asset closes at or above its coupon barrier level on any monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below its initial level and any asset closes below its knock-in level on any day during the life of the notes, in which case, loss of 1% for every 1% that the worst performer finishes below its initial level
|
| Call option: | At par plus any coupon otherwise due on any quarterly observation date after six months
|
| Initial levels: | $29.30 for ETF, 1,968.508 for Russell, 14,454.61 for Nasdaq
|
| Coupon barrier levels: | $19.05 for ETF, 1,279.530 for Russell, 9,395.50 for Nasdaq; 65% of initial levels
|
| Knock-in levels: | $19.05 for ETF, 1,279.530 for Russell, 9,395.50 for Nasdaq; 65% of initial levels
|
| Pricing date: | Jan. 28, 2022
|
| Settlement date: | Feb. 2, 2022
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 0.6%
|
| Cusip: | 90279DB21
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
