Published on 1/5/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $481,000 bearish barrier market-linked notes with digital return on S&P
By Kiku Steinfeld
Chicago, Jan. 5 – UBS AG, London Branch priced $481,000 of 0% bearish barrier market-linked notes with daily barrier observation and digital return due Oct. 24, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the closing level of the index is less than the lower barrier, the initial level minus 30% of initial level, on any day during the life of the notes. If a barrier event occurs, the payment at maturity will be par plus 2%.
If a barrier event does not occur and the final level of the index is greater than or equal to its initial level, the payout at maturity will be par plus 7.5%.
If a barrier event does not occur and the final level is less than the initial level, the payout will be par plus the absolute value of the index return. In this case, the return will be limited to 30%.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Bearish barrier market-linked notes with daily barrier observation and digital return
|
| Underlying index: | S&P 500
|
| Amount: | $481,000
|
| Maturity: | Oct. 24, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Barrier event will occur if closing level of index is less than lower barrier on any day during life of notes, in which case par plus 2%; if no barrier event occurs and final level of index is greater than or equal to initial level, par plus 7.5%; if barrier event does not occur and final level is less than initial level, par plus absolute value of index return, subject to effective cap of 30%
|
| Initial index level: | 4,133.52
|
| Barrier event: | Closing level of index is less than lower barrier on any trading day
|
| Lower barrier: | 2,893.46, 70% of initial level
|
| Pricing date: | April 21, 2023
|
| Settlement date: | April 26, 2023
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 0.25%
|
| Cusip: | 90279GEG0
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
