Published on 9/6/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $6.33 million capped gears linked to weighted index basket
By William Gullotti
Buffalo, N.Y., Sept. 6 – UBS AG, London Branch priced $6.33 million of 0% capped gears due Oct. 31, 2024 linked to a weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
If the basket return is greater than zero, the payout at maturity will be par plus three times the basket return, subject to a maximum return of par plus 23.1%.
Investors will be fully exposed to any basket decline.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Capped gears
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Underlying indexes: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
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Amount: | $6,331,480
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Maturity: | Oct. 31, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket return is greater than zero, par plus three times basket return, subject to 23.1% maximum return; otherwise, full exposure to basket decline from initial level
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Initial levels: | 4,326.47 for Stoxx, 32,226.97 for Nikkei, 7,464.99 for FTSE, 11,106.24 for Swiss Market, 7,210.46 for S&P/ASX
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Pricing date: | Aug. 29
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Settlement date: | Aug. 31
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90289Y496
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