Published on 5/16/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $983,000 step-down trigger autocallable notes on oil futures
Chicago, May 16 – UBS AG, London Branch priced $983,000 of 0% step-down trigger autocallable notes due Oct. 31, 2022 linked to the relevant nearby Light Sweet Crude Oil (WTI) Futures Contract, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 15% per year if the asset closes at or above its call threshold level on any quarterly observation date. The call threshold level will be equal to the initial asset level for every observation date except for the final observation date. For the final observation date, the call threshold level will be 65% of the initial level.
If the notes are not subject to an automatic call, then the final level of the asset will be less than 65% of its initial level, and investors will be exposed to the decline of the asset from its initial level.
J.P. Morgan Securities LLC and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Step-down trigger autocallable notes
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| Underlying asset: | Light Sweet Crude Oil (WTI) Futures Contract
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| Amount: | $983,000
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| Maturity: | Oct. 31, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If not called, 1% loss for every 1% that the asset’s final level is less than its initial level
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| Call: | At par plus a call return of 15% per year if the asset closes at or above its initial level on quarterly call date, except final call date, when call level will be 65% of the initial level
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| Initial value: | $81.31
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| Final call threshold: | $52.85, 65% of initial level
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| Pricing date: | Oct. 14, 2021
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| Settlement date: | Oct. 19, 2021
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| Agents: | UBS Investment Bank and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 90279DMB9
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