Published on 11/27/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.59 million trigger callable contingent yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Nov. 27 – UBS AG, London Branch priced $3.59 million of trigger callable contingent yield notes due Nov. 20, 2026 linked to the worst performing 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 contingent semiannual coupon at a rate of 9.35% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date that period.
The notes will be callable at par of $10 plus any coupon otherwise due on any semiannual observation date.
If the notes are not called and each index finishes at or above the 60% coupon barrier, the payout at maturity will be par plus the final otherwise due coupon.
Otherwise, investors will lose 1% for every 1% decline of the worst performing index from its initial level.
UBS Securities Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $3,587,000
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| Maturity: | Nov. 20, 2026
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| Coupon: | 9.35% per year, payable semiannually if each index closes at or above its coupon barrier level on observation date that period
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus coupon due if each index finishes at or above coupon barrier; otherwise, 1% loss for every 1% decline of worst performing index from its initial level
|
| Call option: | At par plus any coupon due on any semiannual observation date
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| Initial levels: | 1,797.766 for Russell, 4,514.02 for S&P, 15,837.99 for Nasdaq
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| Coupon barriers: | 1,078.66 for Russell, 2,708.41 for S&P, 9,502.79 for Nasdaq; 60% of initial levels
|
| Downside thresholds: | 1,078.66 for Russell, 2,708.41 for S&P, 9,502.79 for Nasdaq; 60% of initial levels
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 22
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| Agents: | UBS Securities Inc. and UBS Investment Bank
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| Fees: | 0%
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| Cusip: | 90279WNT7
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