Published on 6/8/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.71 million trigger autocallable notes on S&P, Russell, Dow
By William Gullotti
Buffalo, N.Y., June 8 – UBS AG, London Branch priced $1.71 million of 0% trigger autocallable notes due June 7, 2028 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 12.5% annualized call premium if each index closes at or above its call level, 95% of initial level, on any semiannual observation date after one year.
If the notes are not called, the payout at maturity will be par unless any index finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable notes
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index, Russell 2000 index
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| Amount: | $1,714,000
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| Maturity: | June 7, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below downside threshold, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Call: | At par plus a 12.5% annualized call premium if all indexes close at or above call level on any semiannual observation date after one year
|
| Initial levels: | 33,762.76 for Dow, 4,282.37 for S&P, 1,830.906 for Russell
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| Call levels: | 32,074.62 for Dow, 4,068.25 for S&P, 1,739.361 for Russell; 95% of initial levels
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| Downside thresholds: | 25,322.07 for Dow, 3,211.78 for S&P, 1,373.18 for Russell; 75% of initial levels
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| Pricing date: | June 2
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| Settlement date: | June 7
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| Agent: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | None
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| Cusip: | 90279GKR9
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