Published on 7/26/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.46 million trigger autocallable notes linked to indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, July 26 – UBS AG, London Branch priced $2.46 million of 0% trigger autocallable notes due July 26, 2028 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the SPDR Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 15.45% 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 Securities LLC 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 and SPDR Regional Banking ETF
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| Amount: | $2,456,000
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| Maturity: | July 26, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if not called because at least one asset closes below call level but no underlier finishes below downside threshold, in which case 1% loss for each 1% decline of worst performer from initial level
|
| Call: | At par plus a 15.45% annualized call premium if each underlier closes at or above call level on any quarterly observation date after one year
|
| Initial levels: | 35,227.69 for Dow, 4,536.34 for S&P, $46.38 for ETF
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| Call levels: | 32,409.47 for Dow, 4,173.43 for S&P, $42.674 for ETF; 92% of initial levels
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| Downside thresholds: | 26,420.77 for Dow, 3,402.26 for S&P, $34.79 for ETF; 75% of initial levels
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Agent: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0%
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| Cusip: | 90279GD89
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