Published on 1/31/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $2 million trigger autocallable contingent yield notes with memory on ETF, indexes
Chicago, Jan. 31 – UBS AG, London Branch priced $2 million of trigger autocallable contingent yield notes with daily close monitoring knock-in due April 15, 2025 linked to the least performing of the VanEck Gold Miners ETF, the Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 15% per year if each asset closes at or above its coupon barrier, 65% of its initial level, on the related observation date.
The notes will be automatically called at par plus the coupon if the shares of each asset close at or above 105% of the initial share price on any monthly call observation date after six months.
If all three assets stay above the 65% downside threshold level during the life of the notes or all three close above their initial levels, investors will receive par on the maturity date. Otherwise, investors will be fully exposed to the worst performer.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes with daily close monitoring knock-in
|
| Underlying assets: | VanEck Gold Miners ETF, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $2,000,000
|
| Maturity: | April 15, 2025
|
| Coupon: | 15% per year, paid monthly, if each asset closes at or above its coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par if all three assets remain above downside threshold during life of notes or all three finish above initial levels; otherwise, full exposure to losses of worst performer
|
| Call: | Automatically at par plus coupon if each asset closes at or above 105% of initial level on any monthly call observation date after six months
|
| Initial levels: | $29.11 for ETF, 16,793.04 for Nasdaq, 1,970.261 for Russell
|
| Coupon barrier levels: | $18.92 for ETF, 10,915.48 for Nasdaq, 1,280.67 for Russell; 65% of initial levels
|
| Downside thresholds: | $18.92 for ETF, 10,915.48 for Nasdaq, 1,280.67 for Russell; 65% of initial levels
|
| Call levels: | $30.57 for ETF, 17,632.69 for Nasdaq, 2,068.774 for Russell; 105% of initial levels
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 16
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 0.25%
|
| Cusip: | 90279WE42
|
|
|
© 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.
