Published on 9/29/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $2.67 million step down trigger autocallable notes on Russell, S&P, Nasdaq
By William Gullotti
Buffalo, N.Y., Sept. 29 – UBS AG, London Branch priced $2.67 million of step down trigger autocallable notes due Sept. 30, 2027 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.
The notes will be called at par plus an 10.75% annualized call premium if all three indexes close at or above call level on any annual observation date. Call level starts at 100% of the initial level and steps down by 2.5% per year.
If the notes are not called and each index finishes at or above its 60% downside threshold, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $2,667,000
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| Maturity: | Sept. 30, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Call: | At par plus 10.75% annualized call premium if all indexes close at or above call level on any annual observation date; call level starts at the initial level and steps down by 2.5% per year
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| Initial levels: | 11,271.75 for Nasdaq, 3,647.29 for S&P, 1,662.509 for Russell
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| Downside thresholds: | 6,763.05 for Nasdaq, 2,188.37 for S&P, 997.505 for Russell; 60% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 30
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| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 3.5%
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| Cusip: | 90279FTN1
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