Published on 3/6/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.16 million trigger autocallable contingent yield notes tied to Russell, S&P
By Angela McDaniels
Tacoma, Wash., March 6 – UBS AG, London Branch priced $4.16 million of trigger autocallable contingent yield notes due July 1, 2027 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.19% per year if each index closes at or above its downside threshold, 70% of its initial level, on the observation date for that quarter.
After 12 months, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and the final level of each index is greater than or equal to its downside threshold, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $4,158,000
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| Maturity: | July 1, 2027
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| Coupon: | 8.19% per year, payable quarterly if each index closes at or above downside threshold on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless final level of either index is less than downside threshold, in which case 1% loss for every 1% that lesser performing index declines from initial level
|
| Call: | After 12 months, automatically at par if each index closes at or above initial level on any quarterly observation date
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| Initial levels: | 1,858.709 for Russell and 4,376.86 for S&P
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| Downside thresholds: | 1,301.096 for Russell and 3,063.80 for S&P, or 70% of initial levels
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| Pricing date: | June 28, 2023
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| Settlement date: | June 30, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90279GRZ4
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