Published on 7/1/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $627,000 trigger callable contingent yield notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, July 3 – UBS AG, London Branch priced $627,000 of trigger callable contingent yield notes due Feb. 17, 2026 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 pay a monthly contingent coupon at an annual rate of 8.3% if each index’s closing level is at least 55% of its initial level on the corresponding observation date.
The notes will be callable at par on any monthly observation date after six months.
If the worst performer finishes above its 55% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $627,000
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| Maturity: | Feb. 17, 2026
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| Coupon: | 8.3% per year, payable monthly if each index closes at or above its coupon barrier on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon if each index finishes at or above trigger level; otherwise, full exposure to the decline of the worst performing index from initial level
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| Call option: | At par on any monthly observation date after six months
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| Initial levels: | 12,728.27 for Nasdaq, 1,972.609 for Russell, 4,164.00 for S&P
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| Coupon barrier levels: | 7,000.55 for Nasdaq, 1,084.935 for Russell, 2,290.20 for S&P; 55% of initial levels
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| Trigger levels: | 7,000.55 for Nasdaq, 1,084.935 for Russell, 2,290.20 for S&P; 55% of initial levels
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| Pricing date: | Feb. 7, 2023
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| Settlement date: | Feb. 10, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279FT76
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