Published on 6/21/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.2 million trigger callable contingent yield notes on three ETFs
By Kiku Steinfeld
Chicago, June 21 – UBS AG, London Branch priced $1.2 million of trigger callable contingent yield notes due Dec. 4, 2025 linked to the worst performing of the iShares Russell 2000 ETF, the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.55% if each ETF’s closing level is at least 70% of its initial level on the relevant observation date.
The notes will be callable at par plus any coupon due on any monthly observation date after six months.
If the notes are not called and each ETF finishes at or above its 70% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be exposed to the decline of the worst performer.
UBS Securities LLC 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 funds: | iShares Russell 2000 ETF, Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust
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| Amount: | $1.2 million
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| Maturity: | Dec. 4, 2025
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| Coupon: | 8.55% per year, payable monthly if each ETF closes at or above its coupon barrier level on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each ETF finishes at or above trigger level; otherwise, exposure to decline of the worst performer
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| Call option: | At par plus any coupon due on any monthly observation date after six months
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| Initial levels: | $218.17 for iShares, $393.82 for Invesco, $455.56 for SPDR
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| Coupon barrier levels: | $152.72 for iShares, $275.67 for Invesco, $318.89 for SPDR; 70% of initial levels
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| Trigger levels: | $152.72 for iShares, $275.67 for Invesco, $318.89 for SPDR; 70% of initial levels
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| Pricing date: | Nov. 30, 2021
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| Settlement date: | Dec. 3, 2021
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279DRF5
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