Published on 5/15/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $14.51 million trigger in-digital securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 15 – UBS AG, London Branch priced $14.51 million of 0% trigger in-digital securities due May 24, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the index is greater than or equal to its digital barrier, 70% of its initial level, the payout at maturity will be par of $10 plus 8.25%.
If the final level of the index is less than its digital barrier, investors will lose 1% for every 1% that the index declines 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 in-digital securities
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Underlying index: | S&P 500 index
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Amount: | $14,509,900
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Maturity: | May 24, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final level of the index is greater than or equal to digital barrier, par plus 8.25%; if final level of the index is less than digital barrier, 1% loss for every 1% that index declines from initial level
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Initial level: | 4,137.64
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Digital barrier: | 2,896.35; 70% of initial level
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Strike date: | May 23
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Pricing date: | May 24
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Settlement date: | May 28
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1%
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Cusip: | 90289X423
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