Published on 2/26/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $9 million contingent income autocallables on indexes, fund
By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – UBS AG, London Branch priced $9 million of contingent income autocallable securities due Feb. 26, 2025 linked to the worst performing of the Russell 2000 index, Nasdaq-100 index and iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.4%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing asset closes below its 65% downside threshold level in which case investors will be fully exposed to the decline of the worst performing asset.
UBS Securities LLC and Morgan Stanley & Co. LLC are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying assets: | Russell 2000 index, Nasdaq-100 index and iShares MSCI EAFE ETF
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| Amount: | $9 million
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| Maturity: | Feb. 26, 2025
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| Coupon: | 10.4% annual rate, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | 17,478.91 for Nasdaq, 1,994.743 for Russell, $76.44 for ETF
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| Coupon barriers: | 12,235.24 for Nasdaq, 1,396.32 for Russell, $53.51 for ETF, 70% of initial levels
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| Downside thresholds: | 11,361.29 for Nasdaq, 1,296.583 for Russell, $49.69 for ETF, 65% of initial levels
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| Pricing date: | Feb. 22
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| Settlement date: | Feb. 26
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| Agents: | UBS Securities LLC and Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 90279W7E8
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