Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $690,000 trigger autocallable contingent yield notes with memory on indexes
Chicago, May 1 – UBS AG, London Branch priced $690,000 of trigger autocallable contingent yield notes with memory interest due June 13, 2025 linked to the performance of the Nasdaq-100 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 quarterly coupon at the rate of 7% per year if each index closes at or above its coupon barrier, 60% of its initial level, on any related observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
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 each index finishes at or above its downside threshold level, 60% of the initial level, the payout at maturity will be par. 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
|
| Issue: | Trigger autocallable contingent yield notes with memory interest
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $690,000
|
| Maturity: | June 13, 2025
|
| Coupon: | 7% per year, paid quarterly, if each index closes at or above its coupon barrier on any related observation date; coupon payments will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par; otherwise, 1% loss for each 1% decline of laggard index from initial level
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | 11,832.82 for Nasdaq, 1,800.284 for Russell, 31,392.79 for Dow
|
| Coupon barrier levels: | 7,099.69 for Nasdaq, 1,080.17 for Russell, 18,835.67 for Dow; 60% of initial levels
|
| Downside thresholds: | 7,099.69 for Nasdaq, 1,080.17 for Russell, 18,835.67 for Dow; 60% of initial levels
|
| Pricing date: | June 10, 2022
|
| Settlement date: | June 15, 2022
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90279FGM7
|
|
|
© 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.
