Published on 6/28/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.15 million trigger autocallable notes on Nasdaq, Russell, Dow
By William Gullotti
Buffalo, N.Y., June 28 – UBS AG, London Branch priced $2.15 million of 0% trigger autocallable notes due June 28, 2027 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 15.3% annualized call premium if each index closes at or above its initial level on any annual observation date.
If the notes are not called, the payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index, Russell 2000 index
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Amount: | $2,152,000
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Maturity: | June 28, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless any index finishes below downside threshold, in which case 1% loss for each 1% decline of worst performing index from initial level
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Call: | At par plus a 15.3% annualized call premium if all indexes close at or above initial levels on any annual observation date
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Initial levels: | 33,727.43 for Dow, 14,891.48 for Nasdaq, 1,821.635 for Russell
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Downside thresholds: | 23,609.2 for Dow, 10,424.04 for Nasdaq, 1,275.145 for Russell; 70% of initial levels
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | None
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Cusip: | 90279GMX4
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