UBS plans trigger phoenix autocallables linked to Euro Stoxx, Russell

By Angela McDaniels

Tacoma, Wash., Oct. 9 – UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due Oct. 31, 2024 linked to the least performing of the Euro Stoxx 50 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the issuer will pay a contingent coupon at the rate of 9% per year if each index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.

If each index closes at or above its initial level on any quarterly observation date, the notes will be automatically called at par.

If the notes are not called and each index finishes at or above its trigger level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the worst-performing index from its initial level.

UBS Financial Services Inc. and UBS Investment Bank are the underwriters.

The notes are expected to price Oct. 27 and settle Oct. 30.

The Cusip number is 90270KDR7.

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