Published on 7/20/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.61 million trigger autocallable notes linked to indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, July 20 – UBS AG, London Branch priced $3.61 million of 0% trigger autocallable notes due July 6, 2028 linked to the performance of the Dow Jones industrial average, the S&P 500 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 17% annualized call premium if each underlier closes at or above its call level, 92% of initial level, on any quarterly observation date after one year.
If the notes are not called, the payout at maturity will be par unless any underlier finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performer.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable notes
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Underlying assets: | Dow Jones industrial average, S&P 500 index, SPDR S&P Regional Banking ETF
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Amount: | $3,614,000
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Maturity: | July 6, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless any underlier finishes below downside threshold, in which case 1% loss for each 1% decline of worst performer from initial level
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Call: | At par plus a 17% annualized call premium if each underlier closes at or above call level on any quarterly observation date after one year
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Initial levels: | $40.83 for ETF, 4,450.38 for S&P, 34,407.6 for Dow
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Call levels: | $37.56 for ETF, 4,094.35 for S&P, 31,654.99 for Dow; 92% of initial levels
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Downside thresholds: | $30.62 for ETF, 3,337.79 for S&P, 25,805.7 for Dow; 75% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | None
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Cusip: | 90279GVD8
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