Published on 7/31/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $905,000 trigger callable contingent yield notes on Russell, S&P
Chicago, July 31 – UBS AG, London Branch priced $905,000 of trigger callable contingent yield notes due July 30, 2026 linked to the least performing of 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 9.1% if each index’s closing level is at least 70% of its initial level on the corresponding observation date.
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 70% downside threshold, the payout at maturity will be par plus the 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: | Russell 2000 index, S&P 500 index
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Amount: | $905,000
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Maturity: | July 30, 2026
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Coupon: | 9.1% 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 the final coupon if each index finishes at or above downside threshold 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 semiannual observation date
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Initial levels: | 1,966.112 for Russell, 4,567.46 for S&P
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Coupon barrier levels: | 1,376.278 for Russell, 3,197.22 for S&P; 70% of initial levels
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Downside threshold levels: | 1,376.278 for Russell, 3,197.22 for S&P; 70% of initial levels
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Pricing date: | July 25
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Settlement date: | July 28
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90279GE70
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