Published on 8/31/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $500,000 trigger contingent yield notes on Nasdaq, Russell, S&P
Chicago, July 31 – UBS AG, London Branch priced $500,000 of trigger contingent yield notes due Aug. 29, 2024 linked to the least performing 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 pay a contingent monthly coupon at a rate of 9.75% per year if each index closes at or above its coupon barrier, 65% of its initial level, on the observation date for that period.
If each index finishes at or above its 65% downside threshold, 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 underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger contingent yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $500,000
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| Maturity: | Aug. 29, 2024
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| Coupon: | 9.75% per year, payable monthly if each index closes at or above its coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its downside threshold, par plus final coupon; otherwise, 1% loss for every 1% that the worst performer declines from its initial level
|
| Initial levels: | 13,143.58 for Nasdaq, 1,964.636 for Russell, 4,199.12 for S&P
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| Coupon barriers: | 8,543.33 for Nasdaq, 1,277.013 for Russell, 2,729.43 for S&P; 65% of initial levels
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| Downside thresholds: | 8,543.33 for Nasdaq, 1,277.013 for Russell, 2,729.43 for S&P; 65% of initial levels
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| Strike date: | Aug. 25, 2022
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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: | 0.4%
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| Cusip: | 90279FSE2
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