Published on 4/16/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $18.37 million trigger callable contingent yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 16 – UBS AG London Branch priced $18.37 million of trigger callable contingent yield notes with daily coupon observation due July 15, 2027 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 quarterly coupon at a rate of 10.3% per year if each index closes at or above its coupon barrier level, 70% of its initial level every day that quarter.
The notes will be callable at par plus any coupon otherwise due on any quarterly observation date.
If the notes are not called and each index finishes at or above the 60% downside threshold, the payout at maturity will be par plus the final coupon, if any.
Otherwise, investors will lose 1% for every 1% decline of the worst performing index from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG London Branch
|
| Issue: | Trigger callable contingent yield notes with daily coupon observation
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
| Amount: | $18,372,500
|
| Maturity: | July 15, 2027
|
| Coupon: | 10.3% per year, payable quarterly if each index closes at or above its coupon barrier level every day that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due if each index finishes at or above downside threshold level; otherwise, 1% loss for every 1% decline of worst performing index from its initial level
|
| Call option: | At par plus any coupon due on any quarterly observation date
|
| Initial levels: | 2,028.389 for Russell, 5,160.64 for S&P, 18,011.65 for Nasdaq
|
| Coupon barriers: | 1,419.872 for Russell, 3,612.45 for S&P, 12,608.16 for Nasdaq; 70% of initial levels
|
| Downside thresholds: | 1,217.033 for Russell, 3,096.38 for S&P, 10,806.99 for Nasdaq; 60% of initial levels
|
| Pricing date: | April 11
|
| Settlement date: | April 16
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 1%
|
| Cusip: | 90304K224
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
