Published on 11/30/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $188,000 trigger callable contingent yield notes on Russell, Nasdaq
By Kiku Steinfeld
Chicago, Nov. 30 – UBS AG, London Branch priced $188,000 of trigger callable contingent yield notes due April 17, 2025 linked to the least performing of the Nasdaq-100 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 the rate of 9.85% per year if each index’s closing level is at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes may be called at par plus the coupon, if any, on any quarterly determination date after six months.
The payout at maturity will be par unless either asset finishes at or below the downside threshold level, 70% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing asset 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 callable contingent yield notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $188,000
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| Maturity: | April 17, 2025
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| Coupon: | 9.85% annual rate, payable quarterly if each index closes at or above coupon barrier on observation date for that period
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| Price: | Par
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| Call: | Par plus coupon, if any, callable on any quarterly determination date after six months
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| Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
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| Initial index levels: | 1,781.154 for Russell, 13,079.52 for Nasdaq
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| Coupon barriers: | 1,246.808 for Russell, 9,155.66 for Nasdaq; 70% of initial levels
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| Downside thresholds: | 1,246.808 for Russell, 9,155.66 for Nasdaq; 70% of initial levels
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| Pricing date: | April 14, 2023
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| Settlement date: | April 19, 2023
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.75%
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| Cusip: | 90279GCS6
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