Published on 3/13/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $306,000 trigger callable contingent yield notes on Nasdaq, Russell, S&P
Chicago, March 13 – UBS AG, London Branch priced $306,000 of trigger callable contingent yield notes Sept. 11, 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 quarterly coupon at an annual rate of 9.25% if each index’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes are callable at par plus any coupon otherwise due on any quarterly observation date starting after six 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 Securities LLC 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: | $306,000
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| Maturity: | Sept. 11, 2025
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| Coupon: | 9.25% per year paid quarterly if each index’s closing level is at or above its coupon barrier on the corresponding 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 after six months
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| Initial levels: | 18,017.57 for Nasdaq, 2,068.089 for Russell, 5,104.76 for S&P
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| Coupon barrier levels: | 12,612.30 for Nasdaq, 1,447.662 for Russell, 3,573.33 for S&P; 70% of initial levels
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| Trigger levels: | 12,612.30 for Nasdaq, 1,447.662 for Russell, 3,573.33 for S&P; 70% of initial levels
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| Pricing date: | March 6
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| Settlement date: | March 11
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.75%
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| Cusip: | 902674T83
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