Published on 7/6/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $585,000 trigger callable contingent yield notes linked to indexes
Chicago, July 6 – UBS AG, London Branch priced $585,000 of trigger callable contingent yield notes due Jan. 17, 2025 linked to the least performing 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.
Each quarter, the notes will pay a contingent coupon at the rate of 11.5% per year if each index closes at or above its coupon barrier level, 55% of its initial level, on the observation date for that period.
After six months, the notes will be callable at par on any quarterly call observation date.
If the notes are not called and the worst performing index’s final level is greater than or equal to its downside threshold level, 55% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index’s final index level is less than its initial index level.
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 indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $585,000
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| Maturity: | Jan. 17, 2025
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| Coupon: | 11.5% per year, payable quarterly if worst performing index closes at or above coupon barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | If notes are not called and worst performing index’s final index level is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index’s final index level is less than initial index level
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| Call option: | At par quarterly
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| Initial levels: | 11,768.40 for Nasdaq, 1,707.505 for Russell and 3,790.38 for S&P
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| Coupon barrier levels: | 6,472.62 for Nasdaq, 939.128 for Russell and 2,084.71 for S&P, or 55% of initial levels
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| Downside thresholds: | 6,472.62 for Nasdaq, 939.128 for Russell and 2,084.71 for S&P, or 55% of initial levels
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| Strike date: | July 14, 2022
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| Pricing date: | July 15, 2022
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| Settlement date: | July 20, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279FMU2
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