Published on 7/19/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.61 million trigger callable contingent yield notes on Dow, S&P
By William Gullotti
Buffalo, N.Y., July 19 – UBS AG, London Branch priced $1.61 million of trigger callable contingent yield notes due July 18, 2024 linked to the performance of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 10.5% if each index’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes will be callable at par on any quarterly observation date.
If the notes are not called and each index finishes at or above its 70% trigger level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable contingent yield notes
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Underlying indexes: | Dow Jones industrial average, S&P 500 index
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Amount: | $1.61 million
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Maturity: | July 18, 2024
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Coupon: | 10.5% per year, payable monthly if each index closes at or above its coupon barrier on the relevant observation date
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Price: | Par
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Payout at maturity: | Par plus the final coupon unless any index finishes below its trigger level, in which case full exposure to the losses of the worst performing index
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Call option: | At par on any quarterly observation date
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Initial levels: | 31,288.26 for Dow, 3,863.16 for S&P
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Coupon barrier levels: | 21,901.78 for Dow, 2,704.21 for S&P; 70% of initial levels
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Trigger levels: | 21,901.78 for Dow, 2,704.21 for S&P; 70% of initial levels
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Pricing date: | July 15
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Settlement date: | July 20
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 0.25%
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Cusip: | 90279FLN9
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