Published on 10/14/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $930,000 buffer autocallable contingent yield notes S&P, Russell
By Kiku Steinfeld
Chicago, Oct. 16 – UBS AG London Branch priced $930,000 of buffer autocallable contingent yield notes due March 30, 2028 linked to the lesser performing 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 monthly coupon at an annual rate of 7.4% if each index closes at or above its 80% coupon barrier on the relevant observation date.
The notes will be called at par plus coupon if each index closes at or above its initial level on any quarterly review date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below its 85% buffer level, in which case investors will lose 1% for every 1% the worst performing index declines beyond 15%.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Buffer autocallable contingent yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $930,000
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| Maturity: | March 30, 2028
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| Coupon: | 7.4%, payable monthly if each index closes at or above coupon barrier on observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index closes below buffer level, in which case 1% loss for each 1% decline of the worst performing index beyond buffer
|
| Call: | At par plus coupon if each index closes at or above its initial level on any quarterly review date after one year
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| Initial level: | 1,753.673 for Russell, 3,977.53 for S&P
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| Coupon barriers: | 1,402.938 for Russell, 3,182.02 for S&P; 80% of initial levels
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| Buffer levels: | 1,490.622 for Russell, 3,380.90 for S&P; 85% of initial levels
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| Pricing date: | March 27, 2023
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| Settlement date: | March 30, 2023
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.85%
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| Cusip: | 90279F6J5
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