New Issue: UBS prices $100,000 trigger return optimization notes on Royal Caribbean

By Kiku Steinfeld

Chicago, Oct. 3 – UBS AG, London Branch priced $100,000 of trigger return optimization securities due March 27, 2024 linked to the common stock of Royal Caribbean Cruises Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

If the stock closes at or above the initial price, the payout at maturity will be par plus five times the gain, capped at 28.53%.

Investors will receive par if the stock declines but finishes above the 60% trigger level and will share in any losses if it closes below the trigger level.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger return optimization securities
Underlying stock:	Royal Caribbean Cruises Ltd.
Amount:	$100,000
Maturity:	March 27, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus five times any gain, capped at 28.53%; par if stock declines but finishes above the trigger level; otherwise, exposure to any losses
Initial share price:	$60.75
Trigger level:	$36.45, 60% of initial price
Pricing date:	March 22, 2023
Settlement date:	March 24, 2023
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	0.15%
Cusip:	90270X887

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