Published on 7/24/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $4.22 million dual directional market-linked notes with observation on S&P
By William Gullotti
Buffalo, N.Y., July 24 – UBS AG, London Branch priced $4.22 million of 0% dual directional barrier market-linked notes with daily barrier observation due July 24, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event will occur if the index closes above its 130% upper barrier or below its 70% lower barrier on any trading day during the life of the notes.
If a trigger event occurs, investors will receive par plus 1%.
If a trigger event does not occur, investors will receive par plus the absolute value of the index return.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Dual directional barrier market-linked notes with daily barrier observation
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Underlying index: | S&P 500 index
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Amount: | $4,218,000
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Maturity: | July 24, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If a trigger event has occurred, par plus 1%; if a trigger event does not occur, par plus the absolute value of the index return
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Trigger event: | Occurs if the index closes above upper barrier or below lower barrier on any trading day during the life of the notes
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Initial level: | 4,534.87
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Upper barrier: | 5,895.33; 130% of initial level
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Lower barrier: | 3,174.41; 70% of initial level
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Pricing date: | July 20
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Settlement date: | July 25
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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: | 90279GE47
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