Published on 3/27/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $4.77 million buffer autocallable contingent yield notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, March 27 – UBS AG London Branch priced $4.77 million of buffer autocallable contingent yield notes due March 27, 2029 linked to the lesser performing of 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 7% if each index closes at or above its 85% coupon barrier on the relevant observation date.
The notes will be called at par plus coupon if each index closes at or above its initial level on any monthly review date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below its 85% buffer level, in which case investors will lose 1% for every 1% the worst performing index declines beyond 15%.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Buffer autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $4,766,000
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| Maturity: | March 27, 2029
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| Coupon: | 7%, payable monthly if each index closes at or above coupon barrier on observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index closes below buffer level, in which case 1% loss for each 1% decline of the worst performing index beyond buffer
|
| Call: | Automatically at par plus coupon if each index closes at or above its initial level on any monthly review date after one year
|
| Initial level: | 5,234.18 for S&P, 2,071.998 for Russell
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| Coupon barriers: | 4,449.05 for S&P, 1,761.198 for Russell; 85% of initial levels
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| Buffer levels: | 4,449.05 for S&P, 1,761.198 for Russell; 85% of initial levels
|
| Pricing date: | March 22
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| Settlement date: | March 27
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.85%
|
| Cusip: | 9026744N7
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