Published on 3/11/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $11.87 million dual directional trigger PLUS linked to Russell 2000
By William Gullotti
Buffalo, N.Y., March 11 – UBS AG, London Branch priced $11.87 million of 0% dual directional trigger Performance Leveraged Upside Securities due June 4, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 200% of the return, subject to a maximum payout of par plus 12.5%.
If the index declines but finishes at or above its 80% trigger level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to the decline of the index from its initial level.
UBS Securities LLC is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | UBS AG, London Branch
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Issue: | Dual directional trigger Performance Leveraged Upside Securities
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Underlying index: | Russell 2000 index
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Amount: | $11,868,000
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Maturity: | June 4, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index gains, par plus 200% of return, capped at par plus 12.5%; if index declines but finishes at or above trigger level, par plus absolute value of index return; otherwise, 1% loss for each 1% decline from initial level
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Initial index level: | 2,054.843
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Trigger level: | 1,643.874; 80% of initial level
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Pricing date: | Feb. 29
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Settlement date: | March 5
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Agent: | UBS Securities LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.25%
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Cusip: | 90279W6Y5
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