Published on 9/21/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $275,000 capped buffered return enhanced notes on stock basket
Chicago, Sept. 21 – UBS AG, London Branch priced $275,000 of 0% capped buffered return enhanced notes with downside leverage factor due Oct. 4, 2023 linked to an equally weighted basket of 20 equity securities, according to a 424B2 filing with the Securities and Exchange Commission.
The securities are AGCO Corp., Amazon.com, Inc., American Express Co., Bank of America Corp., Booking Holdings Inc., Baker Hughes Co., Caterpillar Inc., CrowdStrike Holdings, Inc., Deere & Co., Walt Disney Co., Digital Realty Trust, Inc., FedEx Corp., Generac Holdings Inc., Alphabet Inc., Horizon Therapeutics plc, Lyft, Inc., Oracle Corp., PayPal Holdings, Inc., Signature Bank and Schlumberger NV.
The payout at maturity will be par plus 1.5 times any basket gain, up to a maximum settlement amount of $1,177 per $1,000 of notes.
Investors will receive par if the basket falls by up to 10%. If the basket declines more than 10%, investors will lose 1.1111% for every 1% that the basket declines beyond 10%.
J.P. Morgan Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Capped buffered return enhanced notes with downside leverage factor
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| Underlying stocks: | AGCO Corp., Amazon.com, Inc., American Express Co., Bank of America Corp., Booking Holdings Inc., Baker Hughes Co., Caterpillar Inc., CrowdStrike Holdings, Inc., Deere & Co., Walt Disney Co., Digital Realty Trust, Inc., FedEx Corp., Generac Holdings Inc., Alphabet Inc., Horizon Therapeutics plc, Lyft, Inc., Oracle Corp., PayPal Holdings, Inc., Signature Bank and Schlumberger NV, equal weights
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| Amount: | $275,000
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| Maturity: | Oct. 4, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any basket gain, capped at $1,177 per $1,000 of notes; par if basket falls by up to 10%; otherwise, 1.1111% loss for every 1% that basket declines beyond 10%
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| Initial prices: | $103.69 for AGCO, $123.53 for Amazon, $153.08 for AmEx, $34.12 for BofA, $1,876.45 for Booking, $23.80 for Baker Hughes, $179.47 for Caterpillar, $171.01 for CrowdStrike, $354.50 for Deere, $108.25 for Disney, $112.08 for Digital Realty, $161.02 for FedEx, $200.17 for Generac, $102.80 for Alphabet, $62.66 for Horizon, $16.27 for Lyft, $68.83 for Oracle, $94.00 for PayPal, $171.91 for Signature, $38.37 for Schlumberger
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| Buffer level: | 90% of initial level
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| Pricing date: | Sept. 16, 2022
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| Settlement date: | Sept. 21, 2022
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| Agents: | J.P. Morgan Securities LLC and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90279FUC3
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