Published on 7/22/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $10.36 million trigger callable contingent yield notes on Nasdaq, Russell, S&P
Chicago, July 24 – UBS AG, London Branch priced $10.36 million of trigger callable contingent yield notes due July 17, 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 monthly contingent coupon at an annual rate of 12% if each index’s closing level is at least 75% of its initial level on the corresponding observation date.
After six months, the notes will be callable at par on any monthly observation date after six months.
If the notes are not called and each index finishes at or above its 70% trigger level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable contingent yield notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $10,364,000
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Maturity: | July 17, 2025
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Coupon: | 12% per year, payable monthly if each index closes at or above its coupon barrier on the relevant observation date
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Price: | Par
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Payout at maturity: | Par plus any final coupon if each index finishes at or above trigger level; otherwise, full exposure to the decline of the worst performing index from initial level
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Call option: | At par on any monthly observation date after six months
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Initial levels: | 15,565.60 for Nasdaq, 1,931.09 for Russell, 4,505.42 for S&P
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Coupon barrier levels: | 11,674.20 for Nasdaq, 1,448.318 for Russell, 3,379.07 for S&P; 75% of initial levels
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Trigger levels: | 10,895.92 for Nasdaq, 1,351.763 for Russell, 3,153.79 for S&P; 70% of initial levels
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Pricing date: | July 14
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Settlement date: | July 19
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0.65%
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Cusip: | 90279GYR4
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