Published on 1/13/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.48 million contingent income autocalls on S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – UBS AG, London Branch priced $5.48 million of contingent income autocallable securities due Jan. 3, 2028 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 9.3% per year if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any observation date other than the first and final ones.
If each index finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the least performing index declines from its initial level.
UBS Securities LLC is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average, Russell 2000 index
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| Amount: | $5,475,000
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| Maturity: | Jan. 3, 2028
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| Coupon: | 9.3% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold level, par plus final coupon; otherwise, 1% loss for every 1% that least performing index declines from initial level
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on any observation date other than first and final ones
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| Initial index levels: | 3,783.22 for S&P, 32,875.71 for Dow, 1,722.021 for Russell
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| Coupon barrier levels: | 3,026.58 for S&P, 26,300.57 for Dow, 1,377.617 for Russell; 80% of initial levels
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| Downside threshold levels: | 2,459.09 for S&P, 21,369.21 for Dow,1,119.314 for Russell; 65% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Jan. 3
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| Agent: | UBS Securities LLC
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 90279FL58
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