Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $750,000 trigger autocallables linked to Dow, Russell, S&P
By Angela McDaniels
Tacoma, Wash., April 24 – UBS AG, London Branch priced $750,000 of trigger autocallable contingent yield notes due Dec. 5, 2023 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if each index closes at or above its downside threshold level, 70% of its initial level, on the observation date for that quarter.
After 12 months, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and the worst performing index’s final level is greater than or equal to its downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index’s final index level is less than its initial index level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
|
| Amount: | $750,000
|
| Maturity: | Dec. 5, 2023
|
| Coupon: | 10% per year, payable quarterly if worst performing index closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and worst performing index’s final index level is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index’s final index level is less than initial index level
|
| Call: | After 12 months, automatically at par if worst performing index closes at or above initial index level on any quarterly observation date
|
| Initial index levels: | 32,990.12 for Dow, 1,864.043 for Russell and 4,132.15 for S&P
|
| Downside thresholds: | 23,093.08 for Dow, 1,304.830 for Russell and 2,892.51 for S&P, 70% of initial index level
|
| Pricing date: | May 31, 2022
|
| Settlement date: | June 3, 2022
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 0.25%
|
| Cusip: | 90279FEG2
|
|
|
© 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.
