Published on 11/7/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $239,000 trigger callable contingent yield notes on index, ETF
Chicago, Nov. 7 – UBS AG, London Branch priced $239,000 of trigger callable contingent yield notes due Oct. 24, 2025 linked to the worst performing of the Nasdaq-100 index and the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 12.5% if each underlier’s closing level is greater than or equal to its 70% coupon barrier level on the corresponding observation date.
The notes may be called at par on any semiannual observation date.
If the notes are not called and each underlier finishes at or above its 70% trigger level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.
UBS Securities LLC 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 assets: | Nasdaq-100 index, Financial Select Sector SPDR Fund
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| Amount: | $239,000
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| Maturity: | Oct. 24, 2025
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| Coupon: | 12.5% per year, payable semiannually if each underlier closes at or above its coupon barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above trigger level, par; otherwise, full exposure to the decline of the worst performer from its initial level
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| Call option: | At par on any semiannual observation date
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| Initial levels: | 11,310.33 for Nasdaq, $32.19 for fund
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| Coupon barrier levels: | 7,917.23 for Nasdaq, $22.53 for fund; 70% of initial levels
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| Trigger levels: | 7,917.23 for Nasdaq, $22.53 for fund; 70% of initial levels
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| Pricing date: | Oct. 21, 2022
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| Settlement date: | Oct. 26, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90279FWM9
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