Published on 6/4/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.05 million capped buffer Gears linked to stock basket
By Kiku Steinfeld
Chicago, June 5 – UBS AG London Branch priced $3.05 million of 0% capped buffer Gears due Jan. 30, 2026 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Emerson Electric Co., Halliburton Co., Kinder Morgan, Inc., L3Harris Technologies, Inc., Lockheed Martin Corp., Cheniere Energy, Inc., Nutrien Ltd., NextEra Energy, Inc., Northrop Grumman Corp. and Palo Alto Networks, Inc.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 2 times the basket gain, up to a maximum return of par plus 44.5%.
If the basket falls by no more than 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the basket beyond the 10% buffer.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG London Branch
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| Issue: | Capped buffer Gears
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| Underlying basket: | Emerson Electric Co., Halliburton Co., Kinder Morgan, Inc., L3Harris Technologies, Inc., Lockheed Martin Corp., Cheniere Energy, Inc., Nutrien Ltd., NextEra Energy, Inc., Northrop Grumman Corp. and Palo Alto Networks, Inc., equally-weighted
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| Amount: | $3,050,000
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| Maturity: | Jan. 30, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket finishes at or above its initial level, par plus 2 times return up to maximum return of par plus 44.5%; if basket falls by up to 10%, par; otherwise, 1% loss for each 1% decline of basket beyond the 10% buffer
|
| Initial levels: | $90.62 for Emerson, $41 for Halliburton, $18.61 for Kinder, $196.54 for L3Harris, $459.81 for Lockheed, $151.76 for Cheniere, $76.40 for NextEra, $443.47 for Northrop, $81.73 for Nutrien, $159.11 for Palo Alto
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| Buffer level: | 90% of initial basket level
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| Pricing date: | Jan. 26, 2023
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| Settlement date: | Jan. 31, 2023
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90289W292
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