Published on 10/26/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.22 million trigger callable contingent yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 26 – UBS AG, London Branch priced $2.22 million of trigger callable contingent yield notes due Oct. 24, 2024 linked to the performance 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 quarterly contingent coupon at an annual rate of 12% if each index’s closing level is at least 62.5% of its initial level on the corresponding observation date.
The notes will be callable at par on any quarterly observation date.
If the worst performer finishes above 62.5% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is 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: | $2,215,000
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Maturity: | Oct. 24, 2024
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Coupon: | 12% annual rate, payable quarterly if each index closes at or above its coupon barrier on the relevant observation date
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold level, par; otherwise, full exposure to the losses of the worst performing index
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Call option: | At par on any quarterly observation date
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Initial levels: | 11,310.33 for Nasdaq, 1,742.238 for Russell, 3,752.75 for S&P
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Coupon barrier levels: | 7,068.96 for Nasdaq, 1,088.899 for Russell, 2,345.47 for S&P; 62.5% of initial levels
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Downside threshold levels: | 7,068.96 for Nasdaq, 1,088.899 for Russell, 2,345.47 for S&P; 62.5% of initial levels
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Pricing date: | Oct. 21
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Settlement date: | Oct. 28
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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: | 90279FXE6
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