Published on 10/31/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1 million trigger callable contingent yield notes on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – UBS AG, London Branch priced $1 million of trigger callable contingent yield notes due Oct. 30, 2025 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 10.5% if each index’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes will be callable at par on any monthly observation date after 12 months.
If the notes are not called and each index finishes at or above its 70% trigger level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger callable contingent yield notes
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
Amount: | $1 million
|
Maturity: | Oct. 30, 2025
|
Coupon: | 10.5% per year, payable monthly if each index closes at or above its coupon barrier on the relevant observation date
|
Price: | Par
|
Payout at maturity: | Par plus the final coupon if each index finishes at or above trigger level; otherwise, full exposure to the decline of the worst performing index from initial level
|
Call option: | At par on any monthly observation date after 12 months
|
Initial levels: | 14,381.64 for Nasdaq, 1,651.428 for Russell, 4,186.77 for S&P
|
Coupon barrier levels: | 10,076.15 for Nasdaq, 1,156.0 for Russell, 2,930.74 for S&P; 70% of initial levels
|
Trigger levels: | 10,076.15 for Nasdaq, 1,156.0 for Russell, 2,930.74 for S&P; 70% of initial levels
|
Pricing date: | Oct. 25
|
Settlement date: | Oct. 30
|
Agents: | UBS Securities LLC and UBS Investment Bank
|
Fees: | 0.7%
|
Cusip: | 90279WMD3
|
|
© 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.