Published on 8/5/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.64 million capped trigger gears tied to stocks
By Kiku Steinfeld
Chicago, Aug. 7 – UBS AG, London Branch priced $3.64 million of 0% capped trigger gears due Feb. 27, 2025 linked to the stock performance of Amazon.com, Inc. and Alphabet Inc. according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any gain of the least performing stock, capped at par plus 52.52%.
If the least performing stock falls by up to 35%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the least performing stock declines from the initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Capped trigger gears
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| Underlying stocks: | Amazon.com, Inc. and Alphabet Inc.
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| Amount: | $3.64 million
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| Maturity: | Feb. 27, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If least performing stock gains, par plus 300% of return of the least performing stock, capped at par plus 52.52%; if the least performing stock falls by up to 35%, par; otherwise, 1% loss for every 1% that the least performing stock declines from initial level
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| Initial levels: | $95.82 for Amazon, $90.89 for Alphabet
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| Downside thresholds: | $62.28 for Amazon, $59.08 for Alphabet; 65% of initial levels
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| Pricing date: | Feb. 23, 2023
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| Settlement date: | Feb. 28, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90279FX22
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