Published on 3/24/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $8.59 million trigger autocallable notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, March 24 – UBS AG, London Branch priced $8.59 million of 0% trigger autocallable notes due March 23, 2026 linked to the performance of the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 10.2% annualized call premium if both indexes close at or above their initial levels on any annual observation date.
If the notes are not called, the payout at maturity will be par unless either index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $8,587,000
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Maturity: | March 23, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worst performing index from initial level
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Call: | At par plus a 10.2% annualized call premium if both indexes close at or above initial level on any annual observation date
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Initial level: | 4,463.12 for S&P, 2,086.143 for Russell
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Downside threshold: | 3,124.18 for S&P, 1,460.3 for Russell; 70% of initial levels
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Pricing date: | March 18
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Settlement date: | March 23
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Agent: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90279DZZ2
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