Published on 10/24/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.99 million trigger autocallable contingent yield notes on three indexes
Chicago, Oct. 24 – UBS AG, London Branch priced $1.44 million of trigger autocallable contingent yield notes due Feb. 26, 2027 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 6.5% per year if each index closes at or above its coupon barrier, 70% 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 one year.
If the notes are not called and the final level of each index is greater than or equal to the downside threshold level, 70% 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: | Russell 2000 index, Dow Jones industrial average, S&P 500 index
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Amount: | $1,993,000
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Maturity: | Feb. 26, 2027
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Coupon: | 6.5% 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 one year
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Initial levels: | 1,944.092 for Russell, 33,131.76 for Dow, 4,225.5 for S&P
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Coupon barrier levels: | 1,360.864 for Russell, 23,192.23 for Dow, 2,957.85 for S&P; 70% of initial levels
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Downside thresholds: | 1,360.864 for Russell, 23,192.23 for Dow, 2,957.85 for S&P; 70% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 3.3%
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Cusip: | 90279DC95
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