Published on 4/10/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.13 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 10 – UBS AG, London Branch priced $3.13 million of trigger callable contingent yield notes due April 10, 2029 linked to the worst performing of 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 monthly coupon at an annual rate of 9.6% if each underlier’s closing level is at least 75% of its initial level on the corresponding observation date.
The notes may be called at par plus any coupon otherwise due on any monthly observation date after three months.
If the notes are not called and each underlier finishes at or above its 70% trigger level, the payout at maturity will be par plus the final coupon, if any.
Otherwise, investors will lose 1% for every 1% that the least-performing underlier’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
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| Underlying assets: | Russell 2000 index, S&P 500 index
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| Amount: | $3,125,000
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| Maturity: | April 10, 2029
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| Coupon: | 9.6% per year, payable monthly if each underlier closes at or above its coupon barrier level on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any, unless either underlier finishes below its trigger level, in which case full exposure to the losses of the worst performing underlier
|
| Call option: | At par plus any coupon otherwise due on any monthly observation date after three months
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| Initial levels: | 2,063.47 for Russell, 5,204.34 for S&P
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| Coupon barrier levels: | 1,547.603 for Russell, 3,903.26 for S&P; 75% of initial levels
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| Knock-in levels: | 1,444.429 for Russell, 3,643.04 for S&P; 70% of initial levels
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| Pricing date: | April 5
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| Settlement date: | April 10
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 0.25%
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| Cusip: | 90307DAE2
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