Published on 3/18/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $500,000 trigger autocallable contingent yield notes on Russell, S&P
Chicago, March 18 – UBS AG, London Branch priced $500,000 of trigger autocallable contingent yield notes due March 5, 2026 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 7.25% per year if each index closes at or above its downside threshold, 60% of its initial level, on the observation date for that quarter.
After six months, the notes will be automatically called at par if each index closes at or above its initial level on any monthly 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: | $500,000
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| Maturity: | March 5, 2026
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| Coupon: | 7.25% per year, payable monthly 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 six months, automatically at par if each index closes at or above initial level on any monthly observation date
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| Initial levels: | 2,076.395 for Russell and 5,137.08 for S&P
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| Downside thresholds: | 1,245.837 for Russell and 3,082.25 for S&P, or 60% of initial levels
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| Pricing date: | March 1
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| Settlement date: | March 6
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.7%
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| Cusip: | 902674L40
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