Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $306,000 trigger callable contingent yield notes on Dow, Russell, S&P
Chicago, Oct. 2 – UBS AG, London Branch priced $306,000 of trigger callable contingent yield notes due Oct. 2, 2024 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10.5% if each index’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes will be callable at par on any quarterly observation date after six months.
If the notes are not called and each index finishes at or above its 70% final barrier, the payout at maturity will be par plus the 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 agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $306,000
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| Maturity: | Oct. 2, 2024
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| Coupon: | 10.5% per year, payable quarterly if each index closes at or above its coupon barrier on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon if each index finishes at or above final barrier level; otherwise, full exposure to the decline of the worst performing index from initial level
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| Call option: | At par on any quarterly observation date after six months
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| Initial levels: | 29,134.99 for Dow, 1,662.509 for Russell, 3,647.29 for S&P
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| Coupon barrier levels: | 20,394.49 for Dow, 1,163.756 for Russell, 2,553.10 for S&P; 70% of initial levels
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| Trigger levels: | 20,394.49 for Dow, 1,163.756 for Russell, 2,553.10 for S&P; 70% of initial levels
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| Pricing date: | Sept. 27, 2022
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| Settlement date: | Sept. 30, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.75%
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| Cusip: | 90279FTS0
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