Published on 3/26/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.65 million trigger callable contingent yield notes on index, ETFs
By Wendy Van Sickle
Columbus, Ohio, March 26 – UBS AG, London Branch priced $2.65 million of trigger callable contingent yield notes due March 23, 2028 linked to the worst performing of the S&P 500 index, the iShares Russell 2000 Value ETF and the Real Estate Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if each underlier’s closing level is greater than or equal to its 65% coupon barrier level on the corresponding observation date.
The notes may be called at par on any monthly observation date after six months.
If the notes are not called and each underlier finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying assets: | S&P 500 index, iShares Russell 2000 Value ETF, Real Estate Select Sector SPDR Fund
|
| Amount: | $2,649,000
|
| Maturity: | March 23, 2028
|
| Coupon: | 10% 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: | If each underlier finishes at or above coupon barrier level, par plus final coupon; otherwise, full exposure to the decline of the worst performer from its initial level
|
| Call option: | At par on any monthly observation date after six months
|
| Initial levels: | $38.77 for Real Estate, $152.11 for Russell, 5,178.51 for S&P
|
| Coupon barrier levels: | $25.20 for Real Estate, $98.87 for Russell, 3,366.03 for S&P; 65% of initial levels
|
| Trigger levels: | $25.20 for Real Estate, $98.87 for Russell, 3,366.03 for S&P; 65% of initial levels
|
| Pricing date: | March 19
|
| Settlement date: | March 22
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 0.75%
|
| Cusip: | 902674Y53
|
|
|
|
|
© 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.
