Published on 2/18/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $975,000 trigger callable contingent yield notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Feb. 19 – UBS AG, London Branch priced $975,000 of trigger callable contingent yield notes Dec. 27, 2024 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 9.05% if each index’s closing level is at least 60% of its initial level on the corresponding monthly observation date.
The notes are callable at par plus any coupon otherwise due on any quarterly observation date starting in September 2023.
If the notes have not been called and each index finishes at or above its 60% 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
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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: | $975,000
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Maturity: | Dec. 27, 2024
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Coupon: | 9.05% per year paid monthly if each index’s closing level is at or above its coupon barrier on the corresponding monthly observation date
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Price: | Par
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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
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Call option: | At par plus any coupon otherwise due on any quarterly observation date starting in September 2023
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Initial levels: | 4,348.33 for S&P, 1,821.635 for Russell, 14,891.48 for Nasdaq
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Coupon barrier levels: | 2,609.00 for S&P, 1,092.981 for Russell, 8,934.89 for Nasdaq; 60% of initial levels
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Trigger levels: | 2,609.00 for S&P, 1,092.981 for Russell, 8,934.89 for Nasdaq; 60% of initial levels
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Pricing date: | June 23, 2023
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Settlement date: | June 28, 2023
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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: | 90279GRQ4
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