Published on 6/15/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.61 million trigger callable contingent yield notes on three indexes
By William Gullotti
Buffalo, N.Y., June 15 – UBS AG, London Branch priced $4.61 million of trigger callable contingent yield notes due June 4, 2026 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 9.2% if each index’s closing level is at least 50% of its initial level on the corresponding observation date.
The notes will be callable at par on any quarterly observation date.
If the notes are not called and each index finishes at or above its 50% trigger level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is 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
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
| Amount: | $4,605,000
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| Maturity: | June 4, 2026
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| Coupon: | 9.2% per year, payable monthly if each index closes at or above its coupon barrier on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless any index finishes below its trigger level, in which case full exposure to the losses of the worst performing index
|
| Call option: | At par on any quarterly observation date
|
| Initial levels: | 14,354.99 for Nasdaq, 1,767.292 for Russell, 4,205.52 for S&P
|
| Coupon barrier levels: | 7,177.5 for Nasdaq, 883.646 for Russell, 2,102.76 for S&P; 50% of initial levels
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| Trigger levels: | 7,177.5 for Nasdaq, 883.646 for Russell, 2,102.76 for S&P; 50% of initial levels
|
| Pricing date: | May 30
|
| Settlement date: | June 2
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 0.227%
|
| Cusip: | 90279GLH0
|
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