Published on 2/15/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.26 million trigger autocallable contingent yield notes on three indexes
Chicago, Feb. 15 – UBS AG, London Branch priced $1.26 million of trigger autocallable contingent yield notes due May 2, 2024 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 7% per year if each index closes at or above its coupon barrier, 50% of its initial level, on the related observation date. Previously unpaid coupons will also be paid.
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 six months.
If the worst performer finishes above its downside threshold level, 50% 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: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $1,261,000
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Maturity: | May 2, 2024
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Coupon: | 7% per year, paid monthly, if each index closes at or above its coupon barrier on any related observation date; previously unpaid coupons will also be paid
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold, par plus final coupon; 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 six months
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Initial levels: | 12,854.80 for Nasdaq, 1,864.103 for Russell, 4,131.93 for S&P
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Coupon barrier levels: | 6,427.40 for Nasdaq, 932.052 for Russell, 2,065.97 for S&P; 50% of initial levels
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Downside thresholds: | 6,427.40 for Nasdaq, 932.052 for Russell, 2,065.97 for S&P; 50% of initial levels
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Pricing date: | April 29, 2022
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Settlement date: | May 4, 2022
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0.4%
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Cusip: | 90279D7D2
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