Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $4.14 million contingent income autocallable securities on Nasdaq, Russell, S&P
By William Gullotti
Buffalo, N.Y., May 1 – UBS AG, London Branch priced $4.14 million of contingent income autocallable securities due April 24, 2025 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 quarterly coupon at an annual rate of 10% if each index closes at or above its 75% coupon barrier on the corresponding observation date.
The notes will be called at par of plus the contingent coupon if all indexes close at or above their respective initial level on any quarterly determination date after six months.
If all indexes finish at or above the coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but at or above its downside threshold level, 70% of initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
UBS Securities LLC is the agent and Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $4,135,000
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| Maturity: | April 24, 2025
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| Coupon: | 10% per year, payable quarterly if all indexes close at or above coupon barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above its coupon barrier; if the worst performer finishes below its coupon barrier but at or above its downside threshold, par; otherwise, investors will be exposed to the worst performer’s decline from its initial level
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| Call: | At par plus contingent coupon if all indexes close at or above initial level on any quarterly determination date after six months
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| Initial levels: | 13,000.77 for Nasdaq, 1,791.506 for Russell, 4,133.52 for S&P
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| Coupon barriers: | 9,750.58 for Nasdaq, 1,343.63 for Russell, 3,100.14 for S&P; 75% of initial levels
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| Downside thresholds: | 9,100.54 for Nasdaq, 1,254.054 for Russell, 2,893.46 for S&P; 70% of initial levels
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| Pricing date: | April 21
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| Settlement date: | April 26
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| Agent: | UBS Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.25%
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| Cusip: | 90279GEX3
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