New Issue: UBS prices $2 million capped return-enhanced market-linked notes on commodity basket

By Wendy Van Sickle

Columbus, Ohio, June 15 – UBS AG, London Branch priced $2 million of 0% capped return-enhanced market-linked notes due Dec. 14, 2023 linked to the performance of an equally-weighted basket of eight commodities, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, natural gas futures, corn, soybeans, wheat, copper and zinc.

If the basket finishes positive, the payout at maturity will be par plus 2 times the basket gain, subject to a maximum return of par plus 25%.

Otherwise, investors will be exposed to the first 4.85% of any basket loss.

UBS Investment Bank is the agents with J.P. Morgan Securities LLC as placement agent.

Issuer:	UBS AG, London Branch
Issue:	Capped return-enhanced market-linked notes
Underlying assets:	West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, natural gas futures, corn, soybeans, wheat, copper, zinc; equal weights
Amount:	$2 million
Maturity:	Dec. 14, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the basket finishes positive, par plus 2 times basket gain capped at 25%; otherwise, exposure to first 4.85% of any basket loss
Initial prices:	$120.67 for WTI, $122.01 for Brent, $8.85 for natural gas, $7.7325 for corn, $17.455 for soybeans, $10.7075 for wheat, $9,537.00 for copper, $3,755.00 for zinc
Pricing date:	June 10
Settlement date:	June 15
Agents:	UBS Investment Bank with J.P. Morgan Securities LLC as placement agent
Fees:	1.25%
Cusip:	90279FGU9

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