Published on 8/2/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.5 million trigger autocallable notes tied to S&P, Russell
Chicago, Aug. 2 – UBS AG, London Branch priced $1.5 million of trigger autocallable contingent yield notes due July 30, 2026 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent 9.2% monthly coupon if both indexes close above 70% of their initial levels on the related observation date.
The notes will be called at par plus if both indexes close above their initial levels on any quarterly call observation date.
If the notes are not called, the payout at maturity will be par unless any index finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $1,500,000
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| Maturity: | July 30, 2026
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| Coupon: | 9.2% annual rate, payable monthly if both indexes close above coupon barrier levels on related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless either index closes below downside threshold level, in which case full exposure to losses of worst performer
|
| Call: | At par if both indexes close above initial levels on any quarterly observation date
|
| Initial levels: | 4,566.75 for S&P, 1,980.355 for Russell
|
| Coupon barrier levels: | 3,196.73 for S&P, 1,386.249 for Russell; 70% of initial levels
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| Downside thresholds: | 2,740.05 for S&P, 1,188.213 for Russell; 60% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279GF87
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