Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $999,000 trigger autocallable notes on Russell 2000
By William Gullotti
Buffalo, N.Y., Oct. 16 – UBS AG, London Branch priced $999,000 of 0% trigger autocallable notes due Oct. 13, 2028 linked to the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 11.25% annualized call premium if the index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called, the payout at maturity will be par unless the index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the index from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable notes
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Underlying index: | Russell 2000 index
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Amount: | $999,000
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Maturity: | Oct. 13, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless the index finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
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Call: | At par plus an 11.25% annualized call premium if the index closes at or above initial level on any quarterly observation date after one year
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Initial level: | 1,775.946
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Downside threshold: | 1,243.162; 70% of initial level
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Pricing date: | Oct. 10
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Settlement date: | Oct. 13
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Agent: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 0.625%
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Cusip: | 90279WKL7
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