Published on 2/1/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $5.59 million airbag callable contingent yield notes on three ETFs
Chicago, Feb. 1 – UBS AG, London Branch priced $5.59 million of airbag callable contingent yield notes due Jan. 14, 2027 linked to the least performing of the iShares Russell 1000 Growth ETF, the iShares Russell 2000 ETF and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly at an annualized rate of 11.3% if the least-performing ETF closes at or above its coupon barrier, 75% of the initial level, on the related observation date.
The notes will be callable at par plus any coupon otherwise due on any quarterly observation date.
The payout at maturity will be par plus the final coupon if each ETF finishes at or above its 75% final barrier.
Otherwise, investors will lose 1.3333% for each 1% decline of the least-performing ETF beyond the 25% buffer.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Airbag callable contingent yield notes
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| Underlying ETFs: | iShares Russell 1000 Growth ETF, iShares Russell 2000 ETF, Utilities Select Sector SPDR Fund
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| Amount: | $5,590,000
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| Maturity: | Jan. 14, 2027
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| Coupon: | 11.3%, payable monthly if least-performing ETF closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each ETF finishes at or above final barrier; otherwise, 1.3333% loss for each 1% loss of least-performing ETF beyond 25% buffer
|
| Call option: | At par plus any coupon otherwise due on any quarterly observation date
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| Initial levels: | $304.79 for Growth, $195.08 for 2000, $64.46 for Utilities
|
| Coupon barriers: | $228.59 for Growth, $146.31 for 2000, $48.35 for Utilities; 75% of initial levels
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| Downside thresholds: | $228.59 for Growth, $146.31 for 2000, $48.35 for Utilities; 75% of initial levels
|
| Pricing date: | Jan. 10
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| Settlement date: | Jan. 16
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.06%
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| Cusip: | 90279WF66
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