Published on 12/13/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $2.79 million step down trigger autocallable notes on Russell, S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Dec. 13 – UBS AG, London Branch priced $2.79 million of step down trigger autocallable notes due Nov. 1, 2028 linked to the least 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 be called at par plus a 10% annualized call premium if all three indexes close at or above their initial levels on any semiannual observation date after one year except the final one. Call level will be equal to the 70% downside threshold level on the final observation date.
The notes will be called at par plus the 50% final premium of all three indexes finish at or above their downside threshold levels.
If any index finishes below its downside threshold, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $2,787,000
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| Maturity: | Nov. 1, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 50% unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of worst performing index from initial level
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| Call: | After one year at par plus 10% annualized call premium if all indexes close at or above initial level on any semiannual observation date after one year, except the final observation date when call level will be equal to the downside threshold
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| Initial levels: | 14,180.42 for Nasdaq, 4,117.37 for S&P, 1,636.938 for Russell
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| Downside thresholds: | 9,926.29 for Nasdaq, 2,882.16 for S&P, 1,145.857 for Russell; 70% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 31
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 4.15%
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| Cusip: | 90279WJP0
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