Published on 9/2/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $749,984 14.96% trigger yield optimization notes on Oil & Gas ETF
By Kiku Steinfeld
Chicago, Sept. 5 – UBS AG, London Branch priced $749,984.85 of 14.96% annualized trigger yield optimization notes due Sept. 7, 2023 linked to the shares of SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is $135.99, which is equal to the initial share price of the fund.
Interest of 7.65%, equivalent to an annualized rate of 14.96%, is payable on Sept. 7, 2023.
The payout at maturity will be par unless the fund closes below 80% of the initial price, in which case investors will be fully exposed to the decline in the fund from its initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger yield optimization notes
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Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $749,984.85
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Maturity: | Sept. 7, 2023
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Coupon: | 7.65%, payable on Sept. 7, 2023
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Price: | Par of $135.99
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Payout at maturity: | Par unless fund closes below trigger price, in which case full exposure to decline in the fund from its initial price
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Initial share price: | $135.99
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Trigger price: | $108.79, 80% of initial price
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Pricing date: | March 1, 2023
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Settlement date: | March 3, 2023
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1%
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Cusip: | 90273F651
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