Published on 9/28/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $19.19 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – UBS AG, London Branch priced $19.19 million of trigger callable contingent yield notes due Sept. 26, 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 9.3% if each index’s closing level is at least 60% of its initial level on every day that observation period.
The notes are callable at par plus any coupon otherwise due on any quarterly observation date.
If the notes have not been called and each index finishes at or above its 60% 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
|
| 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: | $19,193,000
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| Maturity: | Sept. 26, 2024
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| Coupon: | 9.3% per year, payable quarterly if each index closes at or above its coupon barrier level on every day that observation period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above coupon barrier level, par plus any final coupon otherwise due; otherwise, lose 1% for every 1% that the worst performer finishes below its initial level.
|
| Call option: | At par plus any coupon otherwise due on any quarterly observation date
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| Initial levels: | 3,693.23 for S&P, 1,679.59 for Russell, 11,311.24 for Nasdaq
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| Coupon barrier levels: | 2,215.94 for S&P, 1,007.754 for Russell, 6,786.74 for Nasdaq; 60% of initial levels
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| Knock-in levels: | 2,215.94 for S&P, 1,007.754 for Russell, 6,786.74 for Nasdaq; 60% of initial levels
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90279FUR0
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