Published on 3/6/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.77 million capped buffer gears linked to index basket
By Angela McDaniels
Tacoma, Wash., March 6 – UBS AG, London Branch priced $1.77 million of 0% capped buffer gears due June 30, 2025 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index.
If the basket return is positive, the payout at maturity will be par of $10 plus two times the basket return, subject to a maximum return of 32.6%. If the basket return is zero or negative but the basket declines by no more than 15%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the basket declines beyond 15%.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Capped buffer gears
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| Underlying indexes: | Euro Stoxx 50 index (40% weight), the Nikkei 225 index (25% weight), the FTSE 100 index (17.5% weight), the Swiss Market index (10% weight) and S&P/ASX 200 index (7.5% weight)
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| Amount: | $1,765,000
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| Maturity: | June 30, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus two times basket return, subject to maximum return of 32.6%; par if basket return is zero or negative but basket declines by no more than 15%; otherwise, 1% loss for every 1% that basket declines beyond 15%
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| Initial levels: | 4,344.75 for Euro Stoxx, 33,193.99 for Nikkei, 7,500.49 for FTSE, 11,183.55 for Swiss Market and 7,196.541 for S&P/ASX
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| Buffer level: | 85% of initial level
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| Pricing date: | June 28, 2023
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| Settlement date: | June 30, 2023
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90289X811
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