UBS plans to issue trigger callable contingent yield notes on ETF, indexes

By Emma Trincal

New York, July 18 – UBS AG, London Branch plans to issue 0% of trigger callable contingent yield notes with daily close monitoring knock-in due Oct. 19, 2023 linked to the least performing of the VanEck Gold Miners, 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 monthly contingent coupon at an annual rate of 23.1% if each underlying’s closing level is at least 65% of its initial level on the corresponding monthly observation date.

The notes will be callable at par on any quarterly observation date after six months.

At maturity, if the notes have not been called, investors will receive par if all three underlyings close above their initial levels.

Alternatively, if any underlier finishes below its initial level, investors will receive par if no underlier has closed below its 65% trigger level on any day during the life of the notes.

Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.

UBS Securities LLC and UBS Investment Bank are the agents.

The notes were expected to price on July 15 and to settle on July 20.

The Cusip number is 90279FLW9.

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