Published on 7/22/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1 million trigger callable contingent yield notes on Nasdaq, Russell, Dow
Chicago, July 24 – UBS AG, London Branch priced $1 million of trigger callable contingent yield notes due July 19, 2028 linked to the performance of the Nasdaq-100 index, the Russell-2000 and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10% if each index’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes will be callable at par on any quarterly valuation date after six months.
If the notes are not called and each index finishes at or above its 70% trigger level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.
UBS Financial Services Inc. 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 indexes: | Nasdaq-100, Russell 2000, Dow Jones industrial average
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Amount: | $1,000,000
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Maturity: | July 19, 2028
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Coupon: | 10% per year, payable quarterly if each index closes at or above its coupon barrier on the relevant observation date
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Price: | Par
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Payout at maturity: | Par if each index finishes at or above trigger level; otherwise, full exposure to the decline of the worst performing index from initial level
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Call option: | At par on any quarterly valuation date after six months
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Initial levels: | 15,565.60 for Nasdaq, 1,931.09 for Russell, 34,509.03 for Dow
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Coupon barrier levels: | 10,895.92 for Nasdaq, 1,351.763 for Russell, 24,156.32 for Dow; 70% of initial levels
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Trigger levels: | 10,895.92 for Nasdaq, 1,351.763 for Russell, 24,156.32 for Dow; 70% of initial levels
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Pricing date: | July 14
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Settlement date: | July 18
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.25%
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Cusip: | 90279GB40
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