Published on 1/24/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.77 million trigger autocallable notes on Stoxx, Russell
By William Gullotti
Buffalo, N.Y., Jan. 24 – UBS AG, London Branch priced $1.77 million of 0% trigger autocallable notes due Jan. 22, 2029 linked to the least performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 13.65% annualized call premium if each index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called, the payout at maturity will be par unless any index finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable notes
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Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index
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Amount: | $1,765,000
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Maturity: | Jan. 22, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless any index finishes below downside threshold, in which case 1% loss for each 1% decline of worst performing index from initial level
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Call: | At par plus a 13.65% annualized call premium if all indexes close at or above initial levels on any quarterly observation date after one year
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Initial levels: | 4,403.08 for Stoxx, 1,913.166 for Russell
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Downside thresholds: | 2,641.85 for Stoxx, 1,147.9 for Russell; 60% of initial levels
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Pricing date: | Jan. 17
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Settlement date: | Jan. 22
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Agent: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | None
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Cusip: | 90279WH72
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