Published on 5/1/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $10.9 million trigger callable contingent yield notes on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, May 1 – UBS AG, London Branch priced $10.9 million of trigger callable contingent yield notes with daily coupon observation due Oct. 29, 2027 linked to the least 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 quarterly contingent coupon at an annual rate of 10.7% if each index’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes will be callable quarterly at par.
If the notes are not called and each index finishes at or above its 60% downside threshold level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is 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 with daily coupon observation
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $10,902,500
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| Maturity: | Oct. 29, 2027
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| Coupon: | 10.7% per year, payable quarterly if each index closes at or above its coupon barrier on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above downside threshold level; otherwise, full exposure to the decline of the worst performing index from initial level
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| Call option: | At par on any quarterly observation date
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| Initial levels: | 5,048.42 for S&P, 1,981.118 for Russell, 17,430.5 for Nasdaq
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| Coupon barrier levels: | 3,533.89 for S&P, 1,386.783 for Russell, 12,201.35 for Nasdaq, 70% of initial levels
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| Downside threshold levels: | 3,029.05 for S&P, 1,188.671 for Russell, 10,458.3 for Nasdaq, 60% of initial levels
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90304K331
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