Model 61 Escort in '73 and well into the '80s, Smith & Wesson didn't have any rimfire self-loading pistols other than the high-end Model 41 target gun. Meanwhile Ruger's target autos were selling like gangbusters and revolver sales as a percentage of the market were starting to slump. Smith needed a cheaper gun to compete in the plinking end of the market.
They got there by taking the basic design of the Model 61, which itself was derived from a long gone Belgian pocket auto, and stretching the barrel and butt into a 10-shot target pistol available with either a 4.5" or 6" barrel, called the Model 422.
Debuting in 1987, the 422 was soon joined by a version with a stainless slide and clear-coat anodized aluminum frame, which in keeping with current S&W numbering practices was the 622. (The number "6" being, generally, a S&W designator for stainless steel. Like most languages, S&W model numbers are best learned by immersion and osmosis rather than from a dictionary.)
Just as these guns were hitting the market, the centerfire S&W pistol world was transitioning from the "Second Generation" guns with their three-digit designators to the "Third Generation" autos, which bore four-digit model numbers. Perhaps with an eye to that, when the all-stainless version of the rimfire plinker debuted in 1990, it was designated the Model 2206.
The six-inch version of the 2206, pictured above, hit the market with an MSRP a whisker under $400 in 1990. It's a hefty gun, weighing in at an honest 39 ounces, which is, like, M1911 heavy. Recoil is pretty much non-existent. Even high-velocity loads are practically like shooting an airsoft gun.
This whole line of pistols was never really a sales threat to the dominant Ruger autos and were superseded in the late 1990s by the much simpler to build Model 22.
The pictured gun, featuring an aftermarket threaded barrel, was purchased from an internet friend for a little over three bills in 2016. Standard Catalog of Smith & Wesson, 4th Edition says $275 for EXC and $225 for VG and add $40 for adjustable sights. An ANIB example configured like the one above (less aftermarket barrel) would book at $390 w/box & docs in the SCSW4E.