Published on 6/30/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.11 million trigger autocallable contingent yield notes on index, ETF
By William Gullotti
Buffalo, N.Y., June 30 – UBS AG, London Branch priced $1.11 million of trigger autocallable contingent yield notes June 26, 2026 linked to the performance of the SPDR S&P Metals & Mining ETF and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual coupon at the rate of 14.65% per year if each underlier closes at or above its coupon barrier, 70% of its initial level, on any related observation date.
The notes will be automatically called at par plus coupon if each underlier closes at or above its initial level on any semiannual call observation date after one year.
If the notes are not called and the final level of each underlier is greater than or equal to the downside threshold level, 70% of the initial level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying assets: | SPDR S&P Metals & Mining ETF, Nasdaq-100 index
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| Amount: | $1,107,000
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| Maturity: | June 26, 2026
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| Coupon: | 14.65% per year, paid semiannually, if each underlier closes at or above its coupon barrier on any related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each underlier finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any semiannual call observation date after one year
|
| Initial levels: | $48.69 for ETF, 14,891.48 for Nasdaq
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| Coupon barrier levels: | $34.08 for ETF, 10,424.04 for Nasdaq; 70% of initial levels
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| Downside thresholds: | $34.08 for ETF, 10,424.04 for Nasdaq; 70% of initial levels
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| Pricing date: | June 23
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| Settlement date: | June 28
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | None
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| Cusip: | 90279GPH6
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