Chicago, Oct. 17 – UBS AG, London Branch priced $526,000 of trigger callable contingent yield notes due Oct. 17, 2024 linked to 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 9% if the ETF’s closing level is at least 60% 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 the ETF finishes at or above its 60% trigger level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the ETF’s final level is below its initial level, payable in shares.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger callable contingent yield notes
|
Underlying fund: | SPDR S&P 500 ETF Trust
|
Amount: | $526,000
|
Maturity: | Oct. 17, 2024
|
Coupon: | 9% per year, payable monthly if the ETF closes at or above its coupon barrier level on the corresponding observation date
|
Price: | Par
|
Payout at maturity: | Par plus final coupon if the ETF finishes at or above trigger level; otherwise, full exposure to the decline of the ETF from its initial level, payable in shares
|
Call option: | At par plus any coupon due on any monthly observation date after six months
|
Initial level: | $357.63
|
Coupon barrier level: | $214.58; 60% of initial level
|
Trigger level: | $214.58; 60% of initial level
|
Share delivery amount: | 2.7962
|
Pricing date: | Oct. 14, 2022
|
Settlement date: | Oct. 19, 2022
|
Agents: | UBS Securities LLC and UBS Investment Bank
|
Fees: | 0.25%
|
Cusip: | 90279FWU1
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.