Published on 9/20/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.47 million trigger autocallable contingent yield notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Sept. 20 – UBS AG, London Branch priced $1.47 million of trigger autocallable contingent yield notes due Sept. 20, 2027 linked to the performance 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 quarterly coupon at an annual rate of 7.95% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if each index closes at or above their initial levels on any quarterly observation date after 12 months.
The payout at maturity will be par plus the coupon unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $1,471,000
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| Maturity: | Sept. 20, 2027
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| Coupon: | 7.95% annual rate, payable quarterly if each index closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus the coupon if each index finishes at or above 70% of initial level; otherwise, 1% loss for each 1% decline of the worse performing index from initial level
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| Call: | At par plus the coupon if each index closes at or above their initial levels on any quarterly observation date after 12 months
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| Initial levels: | 4,450.32 for S&P, 1,847.033 for Russell
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| Coupon barriers: | 3,115.22 for S&P, 1,292.923 for Russell; 70% of initial levels
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| Downside thresholds: | 3,115.22 for S&P, 1,292.923 for Russell; 70% of initial levels
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 20
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90279WBC7
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