Published on 9/30/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.5 million trigger callable contingent yield notes on two indexes, ETF
By William Gullotti
Buffalo, N.Y., Sept. 30 – UBS AG, London Branch priced $1.5 million of trigger callable contingent yield notes with daily coupon observation due Dec. 21, 2023 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 21.8% if each underlier’s closing level is at least 65% of its initial level on every trading day during the observation period.
The notes will be callable at par on any quarterly observation date after six months.
If the notes are not called and each underlier finishes at or above its 65% trigger level, 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’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 with daily coupon observation
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index, VanEck Vectors Gold Miners ETF
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| Amount: | $1.5 million
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| Maturity: | Dec. 21, 2023
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| Coupon: | 21.8% per year, payable monthly if each underlier closes at or above its coupon barrier on every trading day during the observation period
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| Price: | Par
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| Payout at maturity: | Par plus any final coupon otherwise due if each underlier finishes at or above its trigger level, par; otherwise, investors will be fully exposed to the decline of the worst performer from its initial level
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| Call option: | At par on any quarterly observation date after six months
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| Initial levels: | 11,861.38 for Nasdaq, 1,798.189 for Russell, $24.00 for ETF
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| Coupon barrier levels: | 7,709.9 for Nasdaq, 1,168.823 for Russell, $15.60 for ETF; 65% of initial levels
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| Trigger levels: | 7,709.9 for Nasdaq, 1,168.823 for Russell, $15.60 for ETF; 65% of initial levels
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279FUD1
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