By Kiku Steinfeld
Chicago, Sept. 5 – UBS AG, London Branch priced $1.49 million of trigger callable contingent yield notes due March 5, 2026 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual contingent coupon at an annual rate of 7.5% if the index’s closing level is at least 50% of its initial level on the corresponding observation date.
The notes will be callable at par on any semiannual observation date.
If the notes are not called and the index finishes at or above the 50% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the index’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying index: | S&P 500 index
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| Amount: | $1,485,000
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| Maturity: | March 5, 2026
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| Coupon: | 7.5% per year, payable semiannually if the index closes at or above its coupon barrier on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon if index finishes at or above trigger level; otherwise, full exposure to losses
|
| Call option: | At par on any semiannually observation date
|
| Initial level: | 3,970.15
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| Coupon barrier level: | 1,985.08; 50% of initial level
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| Trigger level: | 1,985.08; 50% of initial level
|
| Pricing date: | Feb. 28, 2023
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| Settlement date: | March 3, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 0%
|
| Cusip: | 90279F4Y4
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