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70k UR would transfer as 70k RR. It is not possible to book flights on Southwest using the Chase online travel portal. I am not sure if you can call to book a Southwest flight.
I always transfer my UR to RR if I need to book a flight because I like the flexibility (cancel any time and get my points refunded back) of booking directly with Southwest.
Don't worry about it too much. The Southwest RapidRewards points are worth more than the 1.25 cents they'd be worth through the Ultimate Rewards travel portal.