Published on 1/31/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.96 million trigger callable contingent yield notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – UBS AG, London Branch priced $4.96 million of trigger callable contingent yield notes due Jan. 29, 2027 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12% if each underlier’s closing level is greater than or equal to its 70% coupon barrier level on the corresponding observation date.
The notes may be called at par on any monthly observation date after six months.
If the notes are not called and each underlier finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but at or above its 60% trigger level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the worst performer’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
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index, Technology Select Sector SPDR fund
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| Amount: | $4,955,000
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| Maturity: | Jan. 29, 2027
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| Coupon: | 12% per year, payable monthly if each underlier closes at or above its coupon barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above coupon barrier level, par plus final coupon; if worst performer finishes below its coupon barrier but at or above its trigger level, par; otherwise, full exposure to the decline of the worst performer from its initial level
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| Call option: | At par on any monthly observation date after six months
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| Initial levels: | $201.75 for ETF, 1,978.331 for Russell, 17,421.01 for Nasdaq
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| Coupon barrier levels: | $151.31 for ETF, 1,483.748 for Russell, 13,065.76 for Nasdaq; 70% of initial levels
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| Trigger levels: | $141.23 for ETF, 1,384.832, for Russell, 12,194.71 for Nasdaq; 60% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279WL51
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