Published on 1/22/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $644,000 trigger callable contingent yield notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Jan. 22– UBS AG, London Branch priced $644,000 of trigger callable contingent yield notes due June 10, 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 monthly contingent coupon at an annual rate of 12.25% if each index’s closing level is at least 75% of its initial level on the corresponding observation date.
The notes will be callable monthly after six months at par.
If the notes are not called and each index finishes at or above its 70% downside threshold level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
| Amount: | $644,000
|
| Maturity: | June 10, 2026
|
| Coupon: | 12.25% per year, payable monthly if each index closes at or above its coupon barrier on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes at or above downside threshold level; otherwise, full exposure to the decline of the worst performing index from initial level
|
| Call option: | At par on any monthly observation date after six months
|
| Initial levels: | 14,556.50 for Nasdaq, 1,806.713 for Russell, 4,273.79 for S&P
|
| Coupon barrier levels: | 10,917.38 for Nasdaq, 1,355.035 for Russell, 3,205.34 for S&P; 75% of initial levels
|
| Downside threshold levels: | 10,189.55 for Nasdaq, 1,264.699 for Russell, 2,991.65 for S&P; 70% of initial levels
|
| Pricing date: | June 5, 2023
|
| Settlement date: | June 8, 2023
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 0.25%
|
| Cusip: | 90279GLL1
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
