Published on 9/26/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $6.33 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 26 – UBS AG, London Branch priced $6.33 million of trigger callable contingent yield notes due Sept. 25, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.6% if each index’s closing level is at least 70% of its initial level on the observation date for that observation period.
The notes are callable at par plus any coupon otherwise due on any quarterly observation date after six months.
If the notes have not been called and each index finishes at or above its 65% coupon barrier, the payout at maturity will be par plus any final coupon otherwise due.
Otherwise, investors will lose 1% for every 1% that the worst performer finishes below its initial level.
UBS Financial Services Inc. 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: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $6.33 million
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| Maturity: | Sept. 25, 2024
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| Coupon: | 11.6% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date for that observation period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above coupon barrier level, par plus any final coupon otherwise due; par if the worst performer finishes below its coupon barrier but not below knock-in level; otherwise, lose 1% for every 1% that the worst performer finishes below its initial level.
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| Call option: | At par plus any coupon otherwise due on any quarterly observation date after six months
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| Initial levels: | 3,855.93 for S&P, 1,787.504 for Russell, 11,851.54 for Nasdaq
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| Coupon barrier levels: | 2,699.15 for S&P, 1,251.253 for Russell, 8,296.08 for Nasdaq; 70% of initial levels
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| Knock-in levels: | 2,506.35 for S&P, 1,161.878 for Russell, 7,703.5 for Nasdaq; 65% of initial levels
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 23
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.75%
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| Cusip: | 90279FUQ2
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