Published on 8/4/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $700,000 trigger callable notes linked to gold miners ETF, Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., Aug. 4 – UBS AG, London Branch priced $700,000 of trigger callable contingent yield notes with daily close monitoring knock-in due Dec. 14, 2023 linked to the least performing of the VanEck Gold Miners ETF, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 22.4% per year if each asset closes at or above its downside threshold level, 65% of its initial level, on the observation date for that month.
After six months, the notes will be callable at par on any quarterly call date.
If the notes are not called the payout at maturity will be par unless any asset closes below its downside threshold level during the life of the notes and any asset finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing asset declines from its initial level.
UBS Securities LLC and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes with daily close monitoring knock-in
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| Underlying assets: | VanEck Gold Miners ETF, Nasdaq-100 index and Russell 2000 index
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| Amount: | $700,000
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| Maturity: | Dec. 14, 2023
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| Coupon: | 22.4% per year, payable monthly if each asset closes at or above downside threshold on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any asset closes below downside threshold level during life of notes and any asset finishes below initial level, in which case 1% loss for every 1% that least-performing asset declines from initial level
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| Call option: | At par quarterly after six months
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| Initial levels: | $25.10 for ETF, 12,588.29 for Nasdaq-100 and 1,882.848 for Russell 2000
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| Downside thresholds: | $16.32 for ETF, 8,182.39 for Nasdaq-100 and 1,223.851 for Russell 2000, or 65% of initial levels
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| Pricing date: | Sept. 9, 2022
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| Settlement date: | Sept. 14, 2022
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| Underwriters: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.6%
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| Cusip: | 90279FTT8
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