By William Gullotti
Buffalo, N.Y., July 20 – UBS AG, London Branch priced $1.19 million of 0% trigger autocallable gears due July 18, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 14.5% call premium if the index closes at or above its initial level on July 21, 2023.
If the notes are not called and the index return is positive, the payout at maturity will be par plus 1.25 times the index return.
If the index falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the index declines below the initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable gears
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,185,000
|
| Maturity: | July 18, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index gains, par plus 1.25 times the index return; if the index falls by up to 25%, par; otherwise, 1% loss for every 1% that the index declines from initial level
|
| Call: | Automatically at par plus 14.5% call premium if the index closes at or above initial level on July 21, 2023
|
| Initial level: | 3,863.16
|
| Downside threshold: | 2,897.37; 75% of initial level
|
| Pricing date: | July 15
|
| Settlement date: | July 20
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90289U445
|
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