Published on 4/17/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $7.12 million buffer callable contingent yield notes on Nasdaq, Russell
By Kiku Steinfeld
Chicago, April 17 – UBS AG, London Branch priced $7.12 million of buffer callable contingent yield notes due April 17, 2026 linked to the performance of the Nasdaq-100 index and the Russell 2000 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 12% if each index closes at or above its 85% coupon barrier on the corresponding review date.
The notes are callable at par on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless the least performing index falls by more than 15%, in which case investors will lose 1% for each 1% decline of the worst performer beyond 15%.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Buffer callable contingent yield notes
|
Underlying assets: | Nasdaq-100 index, Russell 2000 index
|
Amount: | $7,117,000
|
Maturity: | April 17, 2026
|
Coupon: | 12% annual rate, payable quarterly if each index closes at or above coupon barrier level on related observation date
|
Price: | Par
|
Payout at maturity: | Par plus final coupon unless least performing index falls by more than 15%, in which case lose 1% for each 1% decline of worst performer beyond 15%
|
Call option: | At par on any quarterly observation date after six months
|
Initial level: | 15,565.60 for Nasdaq, 1,931.090 for Russell
|
Coupon barrier levels: | 13,230.76 for Nasdaq, 1,641.427 for Russell; 85% of initial levels
|
Buffer levels: | 13,230.76 for Nasdaq, 1,641.427 for Russell; 85% of initial levels
|
Pricing date: | July 14, 2023
|
Settlement date: | July 19, 2023
|
Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | 0.75%
|
Cusip: | 90279GXY0
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.