Published on 8/15/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $9.34 million trigger jump autocallable securities on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 15 – UBS AG London Branch priced $9.34 million of 0% trigger jump securities with autocallable feature due Aug. 3, 2029 linked to the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
On any quarterly observation date after one year, the notes will be called at par plus an 8.85% annualized premium if each index closes at or above its initial level on any observation date.
If the notes are not called and each index finishes above 80% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines.
UBS Securities LLC is the agent with Morgan Stanley & Co. LLC as a dealer.
| Issuer: | UBS AG London Branch
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| Issue: | Trigger jump securities with autocallable feature
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $9,336,000
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| Maturity: | Aug. 3, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If notes are not called and return of worst performing index is at least equal to trigger level, par; 1% loss for every 1% that worst performing index declines if it finishes below trigger level
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| Call: | Automatically at par plus 8.85% annualized premium if each index closes at or above initial level on any quarterly observation date after a year
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| Initial levels: | 4,588.96 for S&P, 2,003.177 for Russell
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| Trigger levels: | 3,671.17 for S&P, 1,602.542 for Russell, 80% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
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| Agent: | UBS Securities LLC with Morgan Stanley & Co. LLC as a dealer
|
| Fees: | 3.5%
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| Cusip: | 90279GE88
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