Published on 2/14/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.44 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – UBS AG, London Branch priced $1.44 million of trigger callable contingent yield notes due Feb. 12, 2027 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% 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 quarterly observation date after six months.
If the worst performer finishes above its 65% downside threshold level, the payout will be par. 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
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| Underlying assets: | Euro Stoxx 50 index, Russell 2000 index, MSCI Emerging Markets index
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| Amount: | $1,438,000
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| Maturity: | Feb. 12, 2027
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| Coupon: | 9% per year, payable quarterly if each underlier closes at or above its coupon barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above final barrier level, par plus final coupon; otherwise, full exposure to the decline of the worst performer from its initial level
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| Call option: | At par on any quarterly observation date after six months
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| Initial levels: | 995.53 for MSCI Emerging, 2,009.992 for Russell, 4,715.87 for Stoxx
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| Coupon barrier levels: | 647.09 for MSCI Emerging, 1,306.495 for Russell, 3,065.32 for Stoxx; 65% of initial levels
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| Trigger levels: | 647.09 for MSCI Emerging, 1,306.495 for Russell, 3,065.32 for Stoxx; 65% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.75%
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| Cusip: | 90279WX90
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