Published on 8/31/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $350,000 trigger autocallable yield notes with daily monitoring on indexes
Chicago, Aug. 31 – UBS AG, London Branch priced $350,000 of 13.5% trigger autocallable yield notes with daily close monitoring knock-in due Aug. 31, 2023 linked to the least performing of Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus accrued interest if the indexes close at or above the initial levels on any monthly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the final price of any index is less than the initial level and any index has ever closed below 70% of the initial level during the life of the notes, in which case investors will be fully exposed to the losses of the worst performer.
UBS Securities LLC and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable yield notes with daily close monitoring knock-in
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $350,000
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| Maturity: | Aug. 31, 2023
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| Coupon: | 13.5% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if all three indexes close above initial levels or no index ever closes below the trigger level during the life of the notes; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par plus accrued interest if indexes close at or above initial levels on any monthly observation date after six months
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| Initial levels: | 12,605.17 for Nasdaq, 1,899.83 for Russell, 4,057.66 for S&P
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| Trigger levels: | 8,823.62 for Nasdaq, 1,329.881 for Russell, 2,840.36 for S&P; 70% of initial levels
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| Pricing date: | Aug. 26, 2022
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| Settlement date: | Aug. 31, 2022
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| Underwriters: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279FRR4
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