Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $3.04 million trigger autocallable contingent yield notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, April 23 – UBS AG, London Branch priced $3.04 million of trigger autocallable contingent yield notes with daily close monitoring knock-in due July 22, 2025 linked to the performance of the VanEck Gold Miners ETF, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at the rate of 15.5% per year if each underlier closes at or above its coupon barrier, 65% of its initial level, on every day that month.
The notes will be automatically called at par plus coupon if each underlier closes at or above its initial level on any monthly call observation date after six months.
If the notes are not called and the final level of each underlier is greater than or equal to its coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but at or above the downside threshold level, 65% of the initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% that the worst performer 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 with daily close monitoring knock-in
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| Underlying assets: | VanEck Gold Miners ETF, Russell 2000 index and Nasdaq-100 index
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| Amount: | $3,039,000
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| Maturity: | July 22, 2025
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| Coupon: | 15.5% per year, paid monthly, if each underlier closes at or above its coupon barrier on every day that month
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each underlier finishes at or above coupon barrier; if worst performer finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any monthly call observation date after six months
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| Initial levels: | 17,493.62 for Nasdaq, $33.55 for Gold Miners, 1,947.947 for Russell
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| Coupon barrier levels: | 11,370.85 for Nasdaq, $21.81 for Gold Miners, 1,266.166 for Russell; 65% of initial levels
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| Downside thresholds: | 11,370.85 for Nasdaq, $21.81 for Gold Miners, 1,266.166 for Russell; 65% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90307DCY6
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