Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $105,000 trigger callable contingent yield notes on indexes, ETF
Chicago, Aug. 29 – UBS AG, London Branch priced $105,000 of trigger callable contingent yield notes due Aug. 27, 2027 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each underlier’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes may be called at par plus any coupon otherwise due on any quarterly observation date after six months.
If the notes are not called and each underlier finishes at or above its 65% downside threshold level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the least-performing underlier’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 assets: | S&P 500 index, Russell 2000 index, iShares MSCI EAFE ETF
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| Amount: | $105,000
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| Maturity: | Aug. 27, 2027
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| Coupon: | 9% per year, payable quarterly if each underlier closes at or above its coupon barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any underlier finishes below its downside threshold level, in which case full exposure to the losses of the worst performing underlier
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| Call option: | At par plus any coupon otherwise due on any quarterly observation date after six months
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| Initial levels: | $63.70 for ETF, 1,935.286 for Russell, 4,140.77 for S&P
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| Coupon barrier levels: | $44.59 for ETF, 1,354.7 for Russell, 2,898.54 for S&P; 70% of initial levels
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| Downside threshold levels: | $41.41 for ETF, 1,257.936 for Russell, 2,691.50 for S&P; 65% of initial levels
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| Pricing date: | Aug. 24, 2022
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| Settlement date: | Aug. 29, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90279FRA1
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