New Issue: UBS prices $465,000 trigger autocallable contingent notes with daily close monitoring

By Kiku Steinfeld

Chicago, Feb. 12 – UBS AG, London Branch priced $465,000 of trigger autocallable contingent yield notes with daily close monitoring knock-in due Sept. 26, 2024 linked to the VanEck Gold Miners ETF, the SPDR S&P Regional Banking ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A coupon is payable monthly at the annual rate of 20.5% if each asset closes at or above 65% of its initial level on any monthly observation date.

The notes will be called at if all assets close at or above 105% of their initial levels on any quarterly observation date after six months.

If the notes have not been called, the payout at maturity will be par unless any asset finishes below its initial level and closes below its 65% barrier value during the life of the notes, in which case investors will be exposed to the losses of the least performing asset.

UBS Financial Services Inc. and UBS Investment Bank are the underwriters.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes with daily close monitoring knock-in
Underlying assets:	VanEck Gold Miners ETF, the SPDR S&P Regional Banking ETF and the S&P 500 index
Amount:	$465,000
Maturity:	Sept. 26, 2024
Coupon:	20.5% per year, payable monthly if each asset closes at or above its coupon barrier on any monthly observation date
Price:	Par
Payout at maturity:	Par unless any asset finishes below its initial level and closes below its barrier value during the life of the notes, in which case investors will be exposed to the losses of the least performing asset
Call:	Automatically at par if all assets close at or above 105% of their initial levels on any quarterly observation date after six months
Initial levels:	$29.79 for VanEck, $39.58 for SPDR, 4,348.33 for S&P
Coupon barriers/barrier levels:	$19.36 for VanEck, $25.73 for SPDR, 2,826.41 for S&P, 65% of initial levels
Pricing date:	June 23, 2023
Settlement date:	June 28, 2023
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	0.6%
Cusip:	90279GQW2

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