Published on 3/15/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $500,000 trigger autocallable contingent yield notes on three indexes
By Kiku Steinfeld
Chicago, March 15 – UBS AG, London Branch priced $500,000 of trigger autocallable contingent yield notes with memory interest due Sept. 21, 2023 linked to the least performing of the S&P 500 index, 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 monthly coupon at the rate of 8.25% per year – plus any previously unpaid coupons – if each index closes at or above its coupon barrier, 80% of its initial level, on the related observation date.
The notes will be automatically called at par each index closes at or above its initial level on any quarterly call observation date.
If the notes are not called and the final level of each index is greater than or equal to the 70% downside threshold, 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
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| Issue: | Trigger autocallable contingent yield notes with memory interest
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $500,000
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| Maturity: | Sept. 21, 2023
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| Coupon: | 8.25% per year, paid monthly, if each index closes at or above its coupon barrier on any related observation date, in which case any previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of laggard index from initial level
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| Call: | Automatically at par if each index closes at or above initial level on any quarterly call observation date
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| Initial levels: | 15,515.91 for Nasdaq, 2,232.911 for Russell, 4,473.75 for S&P
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| Coupon barrier levels: | 12,412.73 for Nasdaq, 1,786.329 for Russell, 3,579.00 for S&P; 80% of initial levels
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| Downside thresholds: | 10,861.14 for Nasdaq, 1,563.038 for Russell, 3,131.63 for S&P; 70% of initial levels
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| Pricing date: | Sept. 17
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| Settlement date: | Sept. 22
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279DHJ8
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