Published on 11/17/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.23 million trigger return optimization securities on iShares Russell
New York, Nov. 17 – UBS AG, London Branch priced $3,231,000 of trigger return optimization securities due Nov. 19, 2026 linked to the shares of iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the iShares Russell fund closes at or above the initial price, the payout at maturity will be par plus five times any gain in shares of iShares Russell capped at 32.46%.
Investors will receive par if the fund declines but finishes above the 75% trigger level and will share in any losses if it closes below the trigger level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger return optimization securities
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Underlying fund: | iShares Russell 2000 ETF
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Amount: | $3,231,000
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Maturity: | Nov. 19, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus five times any gain in shares of iShares Russell, capped at 32.46%; par if fund declines but finishes above the trigger level; otherwise, exposure to any losses
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Initial share price: | $178.77
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Trigger level: | $134.08, 75% of initial price
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Pricing date: | Nov. 15
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Settlement date: | Nov. 17
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.5%
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Cusip: | 90304C750
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