New Issue: UBS sells $3 million trigger callable contingent yield notes with knock-in monitoring

By William Gullotti

Buffalo, N.Y., May 17 – UBS AG, London Branch priced $3 million of trigger callable contingent yield notes with daily close monitoring knock-in due Aug. 17, 2023 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 21.5% if each underlier’s closing level is at least 65% of its initial level on the corresponding observation date.

The notes are callable at par plus any coupon otherwise due on any quarterly observation date after six months.

If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 65% knock-in level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger callable contingent yield notes with daily close monitoring knock-in
Underlying assets:	Nasdaq-100 index, Russell 2000 index, VanEck Vectors Gold Miners ETF
Amount:	$3 million
Maturity:	Aug. 17, 2023
Coupon:	21.5% per year, payable monthly if each underlier closes at or above its coupon barrier level on the relevant observation date
Price:	Par
Payout at maturity:	Par unless any underlier closes below its knock-in level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
Call option:	At par plus any coupon otherwise due on any quarterly observation date after six months
Initial levels:	$30.88 for ETF, 1,792.666 for Russell, 12,387.4 for Nasdaq
Coupon barrier levels:	$20.07 for ETF, 1,165.233 for Russell, 8,051.81 for Nasdaq; 65% of initial levels
Knock-in levels:	$20.07 for ETF, 1,165.233 for Russell, 8,051.81 for Nasdaq; 65% of initial levels
Pricing date:	May 13
Settlement date:	May 18
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1%
Cusip:	90279FCY5

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