Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $546,000 buffer autocallable contingent yield notes on gold, silver ETFs
By Kiku Steinfeld
Chicago, April 27 – UBS AG London Branch priced $546,000 of buffer autocallable contingent yield notes due Dec. 29, 2025 linked to the lesser performing of the iShares Silver trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.5% if each ETF closes at or above its 75% coupon barrier on the corresponding review date.
The notes will be called at par plus coupon if each ETF 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 ETF finishes below its 75% buffer level, in which case investors will lose 1% for every 1% decline of the worst performer beyond 25%.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Buffer autocallable contingent yield notes
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| Underlying ETFs: | iShares Silver trust, VanEck Vectors Gold Miners ETF
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| Amount: | $546,000
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| Maturity: | Dec. 29, 2025
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| Coupon: | 10.5%, payable monthly if each ETF closes at or above coupon barrier on observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless either ETF closes below buffer level, in which case 1% loss for each 1% decline of lesser performing ETF beyond buffer
|
| Call: | Automatically at par plus coupon if each ETF closes at or above its initial level on any monthly review date after one year
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| Initial level: | $21.85 for iShares Silver, $28.87 for VanEck
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| Coupon barriers: | $16.39 for iShares Silver, $21.65 for VanEck; 75% of initial levels
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| Buffer level: | $16.39 for iShares Silver, $21.65 for VanEck; 75% of initial levels
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| Pricing date: | Dec. 23, 2022
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| Settlement date: | Dec. 29, 2022
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.25%
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| Cusip: | 90279FF30
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