Published on 3/10/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.83 million trigger callable contingent yield notes on three indexes
By William Gullotti
Buffalo, N.Y., March 10 – UBS AG, London Branch priced $2.83 million of trigger callable contingent yield notes due March 13, 2025 linked to the performance of the Nasdaq-100 index, 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 monthly contingent coupon at an annual rate of 10.5% if each index’s closing level is at least 60% of its initial level on the corresponding observation date.
The notes will be callable at par on any monthly observation date after three months.
If the notes are not called and each index finishes at or above 75% of initial level, the payout at maturity will be par plus the final coupon.
If the worst performer declines by more than 25% but finishes at or above its 50% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’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 indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
Amount: | $2,832,000
|
Maturity: | March 13, 2025
|
Coupon: | 10.5% per year, payable monthly if each index closes at or above its coupon barrier on the relevant observation date
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above coupon barrier, par plus final coupon; if worst performer finishes below coupon barrier but at or above trigger level, par; otherwise, full exposure to decline of worst performer from initial level
|
Call option: | At par on any monthly observation date after three months
|
Initial levels: | 12,215.33 for Nasdaq, 1,879.478 for Russell, 3,992.01 for S&P
|
Coupon barrier levels: | 9,161.5 for Nasdaq, 1,409.609 for Russell, 2,994.01 for S&P; 75% of initial levels
|
Trigger levels: | 6,107.67 for Nasdaq, 939.739 for Russell, 1,996.01 for S&P; 50% of initial levels
|
Pricing date: | March 8
|
Settlement date: | March 13
|
Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | 0.25%
|
Cusip: | 90279F5Z0
|
|
© 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.