Published on 3/15/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $6.99 million 7.35% airbag yield notes tied to Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, March 15 – UBS AG London Branch priced $6.99 million of 7.35% airbag yield notes due April 13, 2023 linked to the least performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the final level of the lesser performing asset is greater than or equal to the downside threshold, 80% of its initial level, the payout will be par.
Otherwise, investors will lose 1.25% for every 1% decline of the lesser performing asset beyond 20%.
UBS Securities LLC and UBS Investment Bank are the underwriters.
Issuer: | UBS AG London Branch
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Issue: | Airbag yield notes
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Underlying assets: | Nasdaq-100 index and S&P 500 index
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Amount: | $6.99 million
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Maturity: | April 13, 2023
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Coupon: | 7.35%, payable monthly
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Price: | Par
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Payout at maturity: | If the final level of the lesser performing asset is greater than or equal to the downside threshold, par; otherwise, investors will lose 1.25% for every 1% decline of the lesser performing asset beyond 20%
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Initial levels: | 13,742.2 for Nasdaq, 4,277.88 for S&P
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Buffer levels: | 10,993.76 for Nasdaq, 3,422.3 for S&P; 80% of initial levels
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Pricing date: | March 10
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Settlement date: | March 15
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Underwriters: | UBS Securities LLC and UBS Investment Bank
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Fees: | None
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Cusip: | 90279DQ25
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