Published on 8/23/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $600,000 step down trigger autocallable notes on Russell, S&P, Nasdaq
Chicago, Aug. 23 – UBS AG, London Branch priced $600,000 of step down trigger autocallable notes due Aug. 15, 2025 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 be called at par plus an 10% annualized call premium if all three indexes close at or above call level on any quarterly observation date starting after one year. Call level starts at 100% of the initial level and steps down by 5% per quarter.
If the notes are not called and at least one index finishes below its 60% downside threshold, investors will be fully exposed to the losses of the worst performer.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $600,000
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| Maturity: | Aug. 15, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Called at par plus 30% if each index finishes above barrier level; otherwise full exposure to losses of worst performer
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| Call: | At par plus 10% annualized call premium if all indexes close at or above call level on any quarterly observation date starting after one year; call level starts at the initial level and steps down by 5% per quarter
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| Initial levels: | 13,565.87 for Nasdaq, 4,280.15 for S&P, 2,016.616 for Russell
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| Downside thresholds: | 8,139.52 for Nasdaq, 2,568.09 for S&P, 1,209.97 for Russell; 60% of initial levels
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| Pricing date: | Aug. 12, 2022
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| Settlement date: | Aug. 17, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279FPX3
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