Published on 7/25/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.16 million trigger autocallable notes linked to indexes, ETF
By Emma Trincal
New York, July 25 – UBS AG, London Branch priced $1.16 million of 0% trigger autocallable notes due July 26, 2027 linked to the least performing of the Russell 2000 index, the S&P 500 index and the SPDR S&P Homebuilders ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 16% annualized call premium if each underlier closes at or above its call level, 90% of initial level, on any annual observation date.
If the notes are not called, the payout at maturity will be par unless any underlier finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performer.
UBS Securities LLC 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 assets: | Russell 2000 index, S&P 500 index and SPDR S&P Homebuilders ETF
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| Amount: | $1,162,000
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| Maturity: | July 26, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if not called because at least one asset closes below call level but no underlier finishes below downside threshold, in which case 1% loss for each 1% decline of worst performer from initial level
|
| Call: | At par plus a 16% annualized call premium if each underlier closes at or above call level on any annual observation date
|
| Initial levels: | 1,960.255 for Russell, 4,536.34 for S&P, $82.49 for ETF
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| Call levels: | 1,764.230 for Russell, 4,082.71 for S&P, $74.24 for ETF; 90% of initial levels
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| Downside thresholds: | 1,372.179 for Russell, 3,175.44 for S&P, $57.74 for ETF; 70% of initial levels
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Agent: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0%
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| Cusip: | 90279GYS2
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