Published on 9/19/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $657,000 trigger autocallable contingent yield notes on three stocks
By Kiku Steinfeld
Chicago, Sept. 19 – UBS AG, London Branch priced $657,000 of trigger autocallable contingent yield notes due Jan. 31, 2025 linked to the least performing of the common stocks of Blackstone Group Inc., Delta Air Lines, Inc. and Norwegian Cruise Line Holdings Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 23.5% per year if each stock 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 the shares of each stock close at or above its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than 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 stocks: | Blackstone Group Inc., Delta Air Lines, Inc. and Norwegian Cruise Line Holdings Ltd.
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| Amount: | $657,000
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| Maturity: | Jan. 31, 2025
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| Coupon: | 23.5% per year, paid quarterly, if each stock 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: | Par unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date
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| Initial levels: | $124.28 for Blackstone, $38.28 for Delta, $19.56 for Norwegian
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| Coupon barrier levels: | $87 for Blackstone, $26.80 for Delta, $13.69 for Norwegian; 70% of initial levels
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| Downside thresholds: | $74.57 for Blackstone, $22.97 for Delta, $11.74 for Norwegian; 60% of initial levels
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| Pricing date: | Jan. 28, 2022
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| Settlement date: | Feb. 2, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 4%
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| Cusip: | 90279DWH5
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