Published on 6/29/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $605,000 buffer autocallable contingent yield notes with memory on index, ETF
By Kiku Steinfeld
Chicago, Jan. 29 – UBS AG London Branch priced $605,000 of buffer autocallable contingent yield notes with memory interest due Feb. 8, 2028 linked to the lesser performing of the Russell 2000 index and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if each underlier closes at or above its 85% coupon barrier on the relevant review date, plus any previously unpaid coupons.
The notes will be called at par plus coupon if each underlier closes at or above its initial level on any monthly review date after one year.
The payout at maturity will be par plus the final coupon unless either underlier finishes below its 85% buffer level, in which case investors will be exposed to any losses of the worst performer beyond 20%.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Buffer autocallable contingent yield notes with memory interest
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| Underlying assets: | Technology Select Sector SPDR fund
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| Amount: | $605,000
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| Maturity: | Feb. 8, 2028
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| Coupon: | 8%, payable monthly if each underlier closes at or above coupon barrier on related observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless either underlier finishes below buffer level, in which case 1% loss for each 1% decline of lesser performing underlier beyond buffer
|
| Call: | Automatically at par plus coupon if each underlier closes at or above its initial level on any monthly review date after one year
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| Initial level: | 1,985.534 for Russell, $141.77 for ETF
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| Coupon barriers: | 1,687.704 for Russell, $120.50 for ETF; 85% of initial levels
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| Buffer levels: | 1,687.704 for Russell, $120.50 for ETF; 85% of initial levels
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| Pricing date: | Feb. 3, 2023
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| Settlement date: | Feb. 8, 2023
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.75%
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| Cusip: | 90279F3A7
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