Published on 4/26/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.94 million trigger callable contingent yield notes on index, ETF
By William Gullotti
Buffalo, N.Y., April 26 – UBS AG, London Branch priced $1.94 million of trigger callable contingent yield notes due April 24, 2026 linked to the worst performing of the S&P 500 index and the SPDR S&P Homebuilders ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 14.6% if each underlier’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes may be called at par on any semiannual observation date after one year.
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. 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
|
Underlying assets: | S&P 500 index, SPDR S&P Homebuilders ETF
|
Amount: | $1,935,000
|
Maturity: | April 24, 2026
|
Coupon: | 14.6% per year, payable semiannually if each underlier closes at or above its coupon barrier level on the relevant observation date
|
Price: | Par
|
Payout at maturity: | Par plus final coupon unless any underlier finishes below its trigger level, in which case full exposure to the losses of the worst performing underlier
|
Call option: | At par on any semiannual observation date after one year
|
Initial levels: | $69.41 for ETF, 4,133.52 for Index
|
Coupon barrier levels: | $48.59 for ETF, 2,893.46 for Index; 70% of initial levels
|
Trigger levels: | $48.59 for ETF, 2,893.46 for Index; 70% of initial levels
|
Pricing date: | April 21
|
Settlement date: | April 26
|
Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | None
|
Cusip: | 90279GDG1
|
|
© 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.