Published on 8/23/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $840,000 trigger autocallable contingent yield notes on three indexes
Chicago, Aug. 23 – UBS AG, London Branch priced $840,000 of trigger autocallable contingent yield notes with memory interest due Aug. 19, 2027 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 8.15% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any quarterly call observation date after six months.
If the notes are not called and the final level of each index is greater than or equal to the coupon barrier, the payout at maturity will be par.
If the worst performer finishes below its coupon barrier but at or above its downside threshold level, 60% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes with memory interest
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $840,000
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| Maturity: | Aug. 19, 2027
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| Coupon: | 8.15% per year, paid quarterly, if each index closes at or above its coupon barrier on any related observation date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above coupon barrier, par plus final coupon; if worst performer finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline of laggard index from initial level
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | 13,667.18 for Nasdaq, 2,021.346 for Russell, 4,297.14 for S&P
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| Coupon barrier levels: | 9,567.03 for Nasdaq, 1,414.942 for Russell, 3,008 for S&P; 70% of initial levels
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| Downside thresholds: | 8,200.31 for Nasdaq, 1,212.808 for Russell, 2,578.28 for S&P; 60% of initial levels
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| Pricing date: | Aug. 15, 2022
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| Settlement date: | Aug. 18, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90279FPU9
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