Published on 5/17/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.33 million trigger autocallable contingent yield notes on three indexes
By William Gullotti
Buffalo, N.Y., May 17 – UBS AG, London Branch priced $4.33 million of trigger autocallable contingent yield notes due May 16, 2025 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 12.75% per year if each index closes at or above its coupon barrier, 75% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any quarterly call observation date after six months.
If the notes are not called and the final level of each index is greater than or equal to the downside threshold level, 75% of the initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $4,326,000
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| Maturity: | May 16, 2025
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| Coupon: | 12.75% per year, paid quarterly, if each index closes at or above its coupon barrier on any related observation date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par plus final coupon; otherwise, 1% loss for each 1% decline of laggard index from initial level
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | 12,387.4 for Nasdaq, 1,792.666 for Russell, 32,196.66 for Dow
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| Coupon barrier levels: | 9,290.55 for Nasdaq, 1,344.5 for Russell, 24,147.5 for Dow; 75% of initial levels
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| Downside thresholds: | 9,290.55 for Nasdaq, 1,344.5 for Russell, 24,147.5 for Dow; 75% of initial levels
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| Pricing date: | May 13
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| Settlement date: | May 18
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90279FDA6
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