Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.41 million trigger callable contingent yield notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Feb. 2 – UBS AG, London Branch priced $1.41 million of trigger callable contingent yield notes June 25, 2025 linked to the worst 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 contingent monthly coupon at an annual rate of 11.05% if each index’s closing level is at least 70% of its initial level on the corresponding monthly observation date.
The notes are callable at par plus any coupon otherwise due on any monthly observation date after three months.
If the notes have not been called and each index finishes at or above its 70% coupon barrier, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% that the worst performer finishes below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
| Amount: | $1,412,000
|
| Maturity: | June 25, 2025
|
| Coupon: | 11.05% per year paid monthly if each index’s closing level is at or above its coupon barrier on the corresponding monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call option: | At par plus any coupon otherwise due on any monthly observation date after three months
|
| Initial levels: | 4,388.71 for S&P, 1,866.699 for Russell, 15,070.15 for Nasdaq
|
| Coupon barrier levels: | 3,072.10 for S&P, 1,306.689 for Russell, 10,549.11 for Nasdaq; 70% of initial levels
|
| Trigger levels: | 3,072.10 for S&P, 1,306.689 for Russell, 10,549.11 for Nasdaq; 70% of initial levels
|
| Pricing date: | June 20, 2023
|
| Settlement date: | June 23, 2023
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 0.7%
|
| Cusip: | 90279GQY8
|
|
|
© 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.
