Published on 9/2/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.26 million step down trigger autocallable notes on Russell, S&P, Dow
By William Gullotti
Buffalo, N.Y., Sept. 2 – UBS AG, London Branch priced $1.26 million of step down trigger autocallable notes due Aug. 31, 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 an 11.05% annualized call premium if all three indexes close at or above their call levels on any annual observation date. Call level starts at 100% of initial level and steps down by 2.5% per year.
The notes will be called at par plus the 55.25% final premium of all three indexes close at or above 90% of initial level on the final call date.
If the notes are not called and each index finishes at or above its 65% downside threshold, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer 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: | $1,263,000
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Maturity: | Aug. 31, 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 11.05% annualized call premium if all indexes close above call level on any annual observation date; call level starts at 100% of initial level and steps down by 2.5% annually
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Initial levels: | 32,283.4 for Dow, 4,057.66 for S&P, 1,899.83 for Russell
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Downside thresholds: | 20,984.21 for Dow, 2,637.48 for S&P, 1,234.89 for Russell; 65% of initial levels
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 3.3%
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Cusip: | 90279FPD7
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