Published on 1/9/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.02 million trigger autocallable contingent yield notes on ETF, indexes
New York, Jan. 9 – UBS AG, London Branch priced $1.02 million of trigger autocallable contingent yield notes with daily close monitoring knock-in due March 14, 2025 linked to the performance of the VanEck Gold Miners ETF, 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 coupon at the rate of 15% per year if each underlier closes at or above its coupon barrier, 65% of its initial level, on any related observation date.
The notes will be automatically called at par plus coupon if each underlier closes at or above its initial level on any monthly call observation date after six months.
If the notes are not called and no underlier closed below its downside threshold, 65% of its initial level, during the life of the notes then the payout at maturity will be par.
The payout will also be par if each underlier ends above its initial level.
Otherwise investors will lose 1% for every 1% that the worst performer declines from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying assets: | VanEck Gold Miners ETF, the Russell 2000 index and the S&P 500 index
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| Amount: | $1.02 million
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| Maturity: | March 14, 2025
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| Coupon: | 15% per year, paid monthly, if each underlier closes at or above its coupon barrier on any related observation date
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| Price: | Par
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| Payout at maturity: | Par if no underlier closes below its downside threshold during the life of the notes or all underliers end above their initial level; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any monthly call observation date after six months
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| Initial levels: | $29.55 for VanEck Gold Miners, 1,883.681 for Russell 2000, 4,622.44 for S&P 500
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| Coupon barrier levels: | $19.21 for VanEck Gold Miners, 1,224.393 for Russell 2000, 3,004.59 for S&P 500; 65% of initial levels
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| Downside thresholds: | $19.21 for VanEck Gold Miners, 1,224.393 for Russell 2000, 3,004.59 for S&P 500; 65% of initial levels
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| Pricing date: | Dec. 11
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| Settlement date: | Dec. 14
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90279WUY8
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