Published on 4/21/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $500,000 buffer autocallable contingent yield notes S&P, Nasdaq, Russell
By Kiku Steinfeld
Chicago, April 22– UBS AG London Branch priced $500,000 of buffer autocallable contingent yield notes due Jan. 23, 2026 linked to the lesser performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.65% if each index closes at or above its 75% coupon barrier on the relevant observation date.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date after one year starting Oct. 3, 2022.
The payout at maturity will be par unless either index finishes below its 70% buffer level, in which case investors will lose 1% for every 1% the worst performing index declines beyond 25%.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Buffer autocallable contingent yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $500,000
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| Maturity: | Jan. 23, 2026
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| Coupon: | 8.65%, payable quarterly if each index closes at or above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below buffer level, in which case 1% loss for each 1% decline of the worst performing index beyond buffer
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| Call: | Par if each index closes at or above its initial level on any quarterly review date after one year
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| Initial level: | 15,713.28 for Nasdaq, 1,951.269 for Russell, 4,522.79 for S&P
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| Buffer levels: | 10,999.30 for Nasdaq, 1,365.888 for Russell, 3,165.95 for S&P; 70% of initial levels
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| Coupon barriers: | 11,784.96 for Nasdaq, 1,784.96 for Russell, 3,392.09 for S&P; 75% of initial levels
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| Pricing date: | July 18, 2023
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| Settlement date: | July 21, 2023
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.5%
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| Cusip: | 90279GF20
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