Published on 8/10/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $6.3 million trigger autocallable contingent yield notes with daily knock-in
By William Gullotti
Buffalo, N.Y., Aug. 10 – UBS AG, London Branch priced $6.3 million of trigger autocallable contingent yield notes with daily close monitoring knock-in due Nov. 5, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 16% if each underlier’s closing level is at least 65% of its initial level on the corresponding observation date.
The notes will be automatically called at par plus the coupon if each underlier closes at or above its 105% call level on any quarterly valuation date after six months.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 65% knock-in level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger autocallable contingent yield notes with daily close monitoring knock-in
|
Underlying assets: | Nasdaq-100 index, Russell 2000 index, VanEck Gold Miners ETF
|
Amount: | $6.3 million
|
Maturity: | Nov. 5, 2024
|
Coupon: | 16% per year, payable monthly if each underlier closes at or above its coupon barrier level on the relevant observation date
|
Price: | Par
|
Payout at maturity: | Par unless any underlier closes below its knock-in level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
|
Call: | Automatically at par plus coupon if each underlier closes at or above call level on any quarterly observation date after six months
|
Initial levels: | $31.41 for ETF, 2,003.177 for Russell, 15,757.0 for Nasdaq
|
Call levels: | $32.98 for ETF, 2,103.336 for Russell, 16,544.85 for Nasdaq; 105% of initial levels
|
Coupon barrier levels: | $20.42 for ETF, 1,302.065 for Russell, 10,242.05 for Nasdaq; 65% of initial levels
|
Knock-in levels: | $20.42 for ETF, 1,302.065 for Russell, 10,242.05 for Nasdaq; 65% of initial levels
|
Pricing date: | July 31
|
Settlement date: | Aug. 3
|
Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | 1%
|
Cusip: | 90279GZT9
|
|
© 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.