Published on 4/18/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $7.28 million capped buffer gears linked to Russell 2000
By William Gullotti
Buffalo, N.Y., April 18 – UBS AG, London Branch priced $7.28 million of 0% capped buffer gears due March 25, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any index gain, capped at par plus 27%.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Capped buffer gears
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Underlying index: | Russell 2000 index
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Amount: | $7,275,000
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Maturity: | March 25, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.5 times any index gain, capped at par plus 27%; par if index falls by up to 15%; otherwise, 1% loss for every 1% decline beyond buffer
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Initial level: | 2,071.998
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Downside threshold: | 1,761.198; 85% of initial level
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Strike date: | March 22
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Pricing date: | March 25
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Settlement date: | March 28
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90303D825
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