Published on 7/25/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $4.45 million trigger callable contingent yield notes on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, July 25 – UBS AG, London Branch priced $4.45 million of trigger callable contingent yield notes due July 24, 2026 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 semiannual contingent coupon at an annual rate of 9.45% if each index’s closing level is at least 60% of its initial level on the corresponding observation date.
After six months, the notes will be callable at par on any semiannual observation date.
If the notes are not called and each index finishes at or above its 60% 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
|
| 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: | $4,452,000
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| Maturity: | July 24, 2026
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| Coupon: | 9.45% per year, payable semiannually 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
|
| Call option: | At par on any semiannual observation date
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| Initial levels: | 15,425.67 for Nasdaq, 1,960.255 for Russell, 4,536.34 for S&P
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| Coupon barrier levels: | 9,255.4 for Nasdaq, 1,176.153 for Russell, 2,721.8 for S&P; 60% of initial levels
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| Trigger levels: | 9,255.4 for Nasdaq, 1,176.153 for Russell, 2,721.8 for S&P; 60% of initial levels
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0%
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| Cusip: | 90279GWL9
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