By Kiku Steinfeld
Chicago, July 26 – UBS AG, London Branch priced $310,000 of 0% bearish autocallable notes due Feb. 27, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index declines from its initial level on any quarterly observation date after six months, the notes will be automatically called at par plus an annual rate of 31.6%.
If the notes are not called, meaning the index gains, at maturity investors will lose 1% for each 1% gain of the index.
If the notes are index return is less than zero but greater than or equal to negative 21.67%, the payout will be par plus the absolute value of the index return.
If the index return is less than negative 21.67%, the payout will be par.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Bearish autocallable notes
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| Underlying index: | S&P 500
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| Amount: | $310,000
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| Maturity: | Feb. 27, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If notes are not called, meaning the index gains, at maturity investors will lose 1% for each 1% gain
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| Call: | If index declines from initial level on any quarterly observation date after six months, at par plus an annual rate of 31.6%.
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| Initial level: | 4,147.60
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| Pricing date: | Feb. 15, 2023
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| Settlement date: | Feb. 21, 2023
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| Agent: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.75%
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| Cusip: | 90279FY54
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