Published on 8/2/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.07 million trigger callable contingent yield notes on Nasdaq, Dow, S&P
Chicago, Aug. 2 – UBS AG, London Branch priced $2.07 million of trigger callable contingent yield notes due July 30, 2026 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual contingent coupon at an annual rate of 7.6% if each index’s closing level is at least 50% of its initial level on the corresponding observation date.
The notes will be callable at par on any semiannual observation date.
If the notes are not called and each index finishes at or above its 50% trigger level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable contingent yield notes
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Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average, S&P 500 index
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Amount: | $2,073,000
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Maturity: | July 30, 2026
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Coupon: | 7.6% per year, payable semiannually if each index closes at or above its coupon barrier on the relevant observation date
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Price: | Par
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Payout at maturity: | Par plus any final coupon if each index finishes at or above trigger level; otherwise, full exposure to the decline of the worst performing index from initial level
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Call option: | At par on any semiannual observation date
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Initial levels: | 15,499.26 for Nasdaq, 35,520.12 for Dow, 4,566.75 for S&P
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Coupon barrier levels: | 7,749.63 for Nasdaq, 17,760.06 for Dow, 2,283.38 for S&P; 50% of initial levels
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Trigger levels: | 7,749.63 for Nasdaq, 17,760.06 for Dow, 2,283.38 for S&P; 50% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0%
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Cusip: | 90279GG86
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