Published on 7/6/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $2.4 million step down trigger autocallable notes on Russell, S&P, Dow
By William Gullotti
Buffalo, N.Y., July 6 – UBS AG, London Branch priced $2.4 million of step down trigger autocallable notes due July 1, 2027 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.
The notes will be called at par plus a 10.25% annualized call premium if all three indexes close at or above call level on any annual observation date. Call level starts at 100% of initial levels and decreases by 2.5% with each subsequent observation.
If the notes are not called and all three indexes finish at or above their downside threshold levels, the payout at maturity will be par.
If any index finishes below its downside threshold, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $2,403,000
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| Maturity: | July 1, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
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| Call: | At par plus 10.25% annualized call premium if all indexes close above call level on any annual observation date; call level starts at initial level and decreases by 2.5% with each subsequent observation
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| Initial levels: | 31,438.26 for Dow, 3,900.11 for S&P, 1,771.742 for Russell
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| Downside thresholds: | 20,434.87 for Dow, 2,535.07 for S&P, 1,151.632 for Russell; 65% of initial levels
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| Pricing date: | June 28
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| Settlement date: | June 30
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.3%
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| Cusip: | 90279FFQ9
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