Published on 1/25/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1 million trigger callable contingent yield notes on three indexes
Chicago, Jan. 25 – UBS AG, London Branch priced $1 million of trigger callable contingent yield notes due Jan. 27, 2027 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 semiannual contingent coupon at an annual rate of 8% if each index’s closing level is at least 60% of its initial level on the related observation date.
The notes will be callable at par on any semiannual observation date.
If the notes are not called and each index finishes at or above its coupon barrier, the payout at maturity will be par plus any final coupon otherwise due.
If the worst performer finishes below its coupon barrier but at or above its 50% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable contingent yield notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $1 million
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Maturity: | Jan. 27, 2027
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Coupon: | 8% per year, payable semiannually if each index closes at or above its coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par plus any final coupon otherwise due if each index finishes at or above its coupon barrier level; if the worst performer finishes below its coupon barrier but at or above its trigger level, the payout will be par; otherwise, investors will be fully exposed to the losses of the worst performing index
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Call option: | At par on any semiannual observation date
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Initial levels: | 17,330.38 for Nasdaq, 1,983.381 for Russell, 4,850.43 for S&P
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Coupon barrier levels: | 10,398.23 for Nasdaq, 1,190.029 for Russell, 2,910.26 for S&P; 60% of initial levels
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Trigger levels: | 8,665.19 for Nasdaq, 991.691 for Russell, 2,425.22 for S&P; 50% of initial levels
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Pricing date: | Jan. 22
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Settlement date: | Jan. 25
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0.4%
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Cusip: | 90279WL77
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