Published on 1/31/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.5 million trigger autocallable contingent yield notes on Russell, S&P, Utilities Select
By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – UBS AG, London Branch priced $1.5 million of trigger autocallable contingent yield notes due Jan. 31, 2028 linked to the least performing of the Utilities Select Sector SPDR fund, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 7.5% per year if each asset closes at or above its coupon barrier, 70% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if each asset closes at or above its initial level on any monthly call observation date after three months.
If the notes are not called and the final level of each asset is greater than or equal to the downside threshold level, 60% of the initial level, the payout at maturity will be par plus the final coupon, if any.
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
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying assets: | Russell 2000 index, S&P 500 index, Utilities Select Sector SPDR fund
|
| Amount: | $1.5 million
|
| Maturity: | Jan. 31, 2028
|
| Coupon: | 7.5% per year, paid monthly, if each asset closes at or above its coupon barrier on any related observation date
|
| Price: | Par of $10
|
| Payout at maturity: | If each asset finishes at or above downside threshold, par plus final coupon, if any; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call: | Automatically at par plus coupon if each asset closes at or above initial level on any monthly call observation date after three months
|
| Initial levels: | $61.21 for fund, 1,978.331 for Russell, 4,890.97 for S&P
|
| Coupon barrier levels: | $42.85 for fund, 1,384.832 for Russell, 3,423.68 for S&P; 70% of initial levels
|
| Downside thresholds: | $36.73 for fund, 1,186.999 for Russell, 2,934.58 for S&P; 60% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 0.7%
|
| Cusip: | 90279WQ56
|
|
|
|
|
© 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.
