Published on 3/30/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $776,000 trigger autocallable contingent yield notes on indexes
By Kiku Steinfeld
Chicago, March 30 – UBS AG, London Branch priced $776,000 of trigger autocallable contingent yield notes due June 13, 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 will pay a contingent monthly coupon at the rate of 9.4% per year if each asset closes at or above its coupon barrier, 70% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if each asset closes at or above its initial level on any monthly call observation date after three months.
If the notes are not called and each asset closes at or above its downside threshold level, 70% of the initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the loss of the worst performing asset.
UBS Securities LLC 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 assets: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $776,000
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| Maturity: | June 13, 2024
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| Coupon: | 9.4% per year, paid monthly, if each asset closes at or above its coupon barrier on any related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below downside threshold level, in which case investors will be fully exposed to the loss of the worst performing asset
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| Call: | Automatically at par plus coupon if each asset closes at or above initial level on any monthly call observation date after three months
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| Initial levels: | 3,934.38 for S&P, 11,563.33 for Nasdaq, 1,796.661 for Russell
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| Coupon barrier levels: | 2,754.07 for S&P, 8,094.33 for Nasdaq, 1,257.663 for Russell; 70% of initial levels
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| Downside thresholds: | 2,754.07 for S&P, 8,094.33 for Nasdaq, 1,257.663 for Russell; 70% of initial levels
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| Pricing date: | Dec. 9
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| Settlement date: | Dec. 14
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.35%
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| Cusip: | 90279FZY0
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