Published on 12/28/2021 in the Prospect News Structured Products Daily.
New Issue: UBS sells $2.93 million trigger callable contingent yield notes on Russell, S&P, Dow
By Kiku Steinfeld
Chicago, Dec. 29 – UBS AG, London Branch priced $2.93 million of trigger callable contingent yield notes due Dec. 3, 2026 linked to the least performing of 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 pay a contingent coupon if each index closes at or above its coupon barrier, 70% of its initial level, on the relevant observation date. The contingent coupon rate is 6.5% per year.
The notes are callable on any coupon observation date at par plus any coupon after six months.
If the notes are not called and each index finishes at or above its downside threshold, 55% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000, S&P 500
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| Amount: | $2.93 million
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| Maturity: | Dec. 3, 2026
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| Coupon: | 6.5% per year, payable each quarter that each index closes at or above its coupon barrier on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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| Call option: | At par plus any coupon, quarterly after six months
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| Initial levels: | 34,483.72 for Dow, 2,198.908 for Russell, 4,567.00 for S&P
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| Coupon barriers: | 24,138.60 for Dow, 1,539.236 for Russell, 3,196.90 for S&P; 70% of initial levels
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| Downside thresholds: | 18,966.05 for Dow, 1,209.399 for Russell, 2,511.85 for S&P; 55% of initial levels
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 7
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0%
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| Cusip: | 90279DQC3
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