Published on 1/15/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $13.47 million trigger callable contingent yield notes on three indexes
Chicago, Jan. 16 – UBS AG, London Branch priced $13.47 million of trigger callable contingent yield notes with daily coupon observation due July 15, 2026 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 pay a quarterly contingent coupon at an annual rate of 10% if each index’s closing level is at least 70% of its initial level on every trading day during the observation period.
The notes will be callable at par on any quarterly observation date.
If the notes are not called and each index finishes at or above its 60% trigger level, the payout at maturity will be par plus any final coupon. 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
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| Issue: | Trigger callable contingent yield notes with daily coupon observation
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $13,466,950
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| Maturity: | July 15, 2026
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| Coupon: | 10% annual rate, payable quarterly if each index closes at or above its coupon barrier on every trading day during the observation period
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus the final coupon unless any index finishes below its trigger level, in which case full exposure to the losses of the worst performing index
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| Call option: | At par on any quarterly observation date
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| Initial levels: | 16,793.04 for Nasdaq, 1,970.261 for Russell, 4,783.45 for S&P
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| Coupon barrier levels: | 11,755.13 for Nasdaq, 1,379.183 for Russell, 3,348.42 for S&P; 70% of initial levels
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| Trigger levels: | 10,075.82 for Nasdaq, 1,182.157 for Russell, 2,870.07 for S&P; 60% of initial levels
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 16
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90301Q711
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