Published on 11/7/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.3 million contingent income autocallables on three indexes
By Kiku Steinfeld
Chicago, Nov. 7 – UBS AG, London Branch priced $4.3 million of contingent income autocallable securities due April 10, 2025 linked to the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.8%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date after six months.
At maturity, the payout will be par unless the worst performing index finishes below its 75% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing index.
Morgan Stanley Wealth Management and UBS Securities LLC are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $4.3 million
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| Maturity: | April 10, 2025
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| Coupon: | 10.8%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date after six months
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| Initial levels: | 12,967.20 for Nasdaq, 1,754.334 for Russell, 4,090.38 for S&P
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| Downside thresholds: | 9,725.40 for Nasdaq, 1,314.101 for Russell, 3,067.79 for S&P, 75% of initial level
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| Pricing date: | April 5, 2023
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| Settlement date: | April 11, 2023
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| Agents: | Morgan Stanley Wealth Management and UBS Securities LLC
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| Fees: | 2.25%
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| Cusip: | 90279GCM9
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