Published on 2/12/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $511,000 trigger callable contingent yield notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Feb. 12 – UBS AG, London Branch priced $511,000 of trigger callable contingent yield notes due June 26, 2026 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.25% if each index’s closing level is at least 70% of its initial level on the related observation date.
The notes are callable at par plus any coupon otherwise due on any quarterly observation date after 6 months.
If the notes have not been called and each index finishes at or above its 70% trigger level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% that the worst performer finishes below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable contingent yield notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $511,000
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Maturity: | June 26, 2026
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Coupon: | 11.25% per year, paid monthly if each index’s closing level is at or above its coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, lose 1% for every 1% that the worst performer finishes below its initial level
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Call option: | At par plus any coupon otherwise due on any quarterly observation date after 6 months
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Initial levels: | 4,348.33 for S&P, 1,821.635 for Russell, 14,891.48 for Nasdaq
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Coupon barrier levels: | 3,043.83 for S&P, 1,275.145 for Russell, 10,424.04 for Nasdaq; 70% of initial levels
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Trigger levels: | 3,043.83 for S&P, 1,275.145 for Russell, 10,424.04 for Nasdaq; 70% of initial levels
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Pricing date: | June 23, 2023
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Settlement date: | June 28, 2023
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0.25%
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Cusip: | 90279GQB8
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