UBS AG - Listing of UBS Autocallable Notes

Listing of UBS Autocallable Notes

UBS AG, London Branch
(“UBS AG” or the “Company”)
(Incorporated and domiciled in Switzerland)
(Registration number: CHE-101.329.561)

Listing of UBS Autocallable Notes linked to the SPX and UKX Indices – 100%
barrier (the "Notes") – Series 3

The JSE Limited has granted UBS approval for the listing of the Autocallable
Notes linked to the Standard and Poor’s 500 Index (SPX) and FTSE 100 Index
(UKX) due 30 May 2028.

An autocallable is a structured product which pays investors coupon payments,
subject to an underlying reference asset(s) being at or above a specified
level. The products have a fixed maximum tenor; however, the tenor may be
shorter if the product is called. The product has set observation dates on
which the coupon payments are made, and the product can be called early. The
coupon paid by the product is financed by a short position in a put option.
The put option has a tenor that matches the maximum tenor of the product.

The Notes are a notional rand denominated structured product referencing
global indices. This product offers a return if on any Observation Date all
Underlyings close at or above the Autocall Barrier level. In this case, the
investor will receive a fixed payment for every observation period that has
passed since inception. The product also allows for early redemption before
expiry, with the investor receiving back their invested capital on top of
the relevant coupon for the relevant period if all Underlyings close at or
above a specific Autocall Barrier level on any Early Termination Observation
Date.

If no autocall event occurs, the investor will receive 100% of the Nominal
on the Redemption Date provided none of the Kick-In Levels have been breached
on the Expiration Date.

If at least one of the Underlyings closes at or below its respective Kick-
In Level at expiry, the redemption value will reflect the performance of the
worst performing Underlying.

This listing is issued under the Information Memorandum of UBS AG. Trading
will commence on Wednesday, 14 June 2023.

INSTRUMENT NUMBER:                109575
ALPHA CODE:                       UBS002
ISIN:                             ZAE000322590
ISSUE SIZE (UNITS):               100,000 units with reopening clause

LISTING DATE:                     14 June 2023
EXPIRY DATE:                      30 May 2028

ISSUE PRICE (RAND):               1,000 per Note

UNDERLYING INDICES:               Standard and Poor’s 500 Index
                                  Bloomberg ticker: SPX Index
                                  FTSE 100 Index
                                  Bloomberg ticker: UKX Index

Underlyings and Levels (on the Pricing Date):
 Index      Initial        Contingent      Mandatory Early        Knock-In
              Level      Coupon Level    Termination Level           Level
              Index       100% of the    100% of the Index      60% of the
            Closing     Index Closing              Closing   Index Closing
              Level             Level                Level           Level
 SPX       4,179.83          4,179.83             4,179.83       2,507.898
 UKX       7,446.14          7,446.14             7,446.14       4,467.684


Observation Date(s):

n    Date
1    28 May 2024
2    27 May 2025
3    26 May 2026
4    25 May 2027
5    30 May 2028

Early Termination Observation Date(s):

n    Date
1    28 May 2024
2    27 May 2025
3    26 May 2026
4    25 May 2027
5    30 May 2028


For further information kindly contact:
UBS KeyInvest South Africa
Tel.: +27 11 322 7129 / 7317
E-mail: keyinvestza@ubs.com
Web: http://keyinvest-za.ubs.com/products

Johannesburg
13 June 2023

Sponsor: UBS South Africa (Pty) Limited

Date: 13-06-2023 03:30:00
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