Published on 4/3/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $804,000 trigger callable contingent yield notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, April 3 – UBS AG, London Branch priced $804,000 of trigger callable contingent yield notes due July 10, 2026 linked to the least 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 quarterly contingent coupon at an annual rate of 13.7% if each index’s closing level is at least 80% of its initial level on the corresponding observation date.
The notes will be callable quarterly at par.
If the notes are not called and each index finishes at or above its 80% downside threshold level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is 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: | $804,000
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| Maturity: | July 10, 2026
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| Coupon: | 13.7% per year, payable quarterly if each index closes at or above its coupon barrier on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above downside threshold level; otherwise, full exposure to the decline of the worst performing index from initial level
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| Call option: | At par on any quarterly observation date
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| Initial levels: | 15,036.85 for Nasdaq, 1,864.664 for Russell, 4,398.95 for S&P
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| Coupon barrier levels: | 12,029.48 for Nasdaq, 1,491.731 for Russell, 3,519.16 for S&P; 80% of initial levels
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| Downside threshold levels: | 12,029.48 for Nasdaq, 1,491.731 for Russell, 3,519.16 for S&P; 80% of initial levels
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| Pricing date: | July 7, 2023
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| Settlement date: | July 12, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.5%
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| Cusip: | 90279GVN6
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