New Issue: UBS prices $303,000 trigger in-step notes tied to three stocks

By Kiku Steinfeld

Chicago, March 11 – UBS AG, London Branch priced $303,000 of 0% trigger in-step securities due Jan. 3, 2025 linked to the stock performance of Apple Inc., Bank of America Corp. and Berkshire Hathaway Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the lowest performing stock finishes at or above its 70% downside threshold, the payout at maturity will be par plus the greater of the 20.5% step return and the return of that stock.

Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger in-step securities
Underlying stocks:	Apple Inc., Bank of America Corp., Berkshire Hathaway Inc.
Amount:	$303,000
Maturity:	Jan. 3, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If lowest performing stock finishes at or above 70% downside threshold, par plus greater of 20.5% and that stock’s return; otherwise, 1% loss per 1% decline of worst performer from initial level
Initial levels:	$189.59 for Apple, $28.66 for BofA, $336.91 for Berkshire
Downside thresholds:	$132.71 for Apple, $20.06 for BofA, $235.84 for Berkshire; 70% of initial levels
Pricing date:	June 29, 2023
Settlement date:	July 5, 2023
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1%
Cusip:	90279GNZ8

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