Published on 8/15/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.63 million trigger autocallable notes tied to Stoxx, Russell
Chicago, Aug. 15 – UBS AG, London Branch priced $5.63 million of 0% trigger autocallable notes due Aug. 1, 2028 linked to the least performing of the Euro Stoxx 50 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 an 11% call return rate if both indexes close above their initial levels on any quarterly review date starting after six months.
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 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 indexes: | Russell 2000 index, Euro Stoxx 50 index
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Amount: | $5,630,000
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Maturity: | Aug. 1, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either index closes below downside threshold level, in which case full exposure to losses of worst performer
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Call: | At par plus 11% annualized call return rate if both indexes close above initial levels on any quarterly observation date starting after six months
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Initial levels: | 1,954.896 for Russell, 4,447.44 for Stoxx
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Downside thresholds: | 1,466.172 for Russell, 3,335.58 for Stoxx; 75% of initial levels
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Pricing date: | July 27
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Settlement date: | July 31
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Agent: | UBS Securities LLC and UBS Investment Bank
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Fees: | 2.85%
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Cusip: | 90279GZJ1
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