Published on 1/24/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $3.51 million step down trigger autocallable notes on Russell, S&P
By William Gullotti
Buffalo, N.Y., Jan. 24 – UBS AG, London Branch priced $3.51 million of step down trigger autocallable notes due Jan. 22, 2027 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 9% annualized call premium if all indexes close at or above their initial levels on any annual observation except the final observation date, for which the call level will be equal to the 70% downside threshold level.
The notes will be called at par plus the 27% final premium of each index finishes at or above its downside threshold level on the final call date.
If any index finishes below its downside threshold, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $3,505,000
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| Maturity: | Jan. 22, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 27% unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Call: | At par plus 9% annualized call premium if all indexes close at or above initial level on any annual observation except the final observation date, for which the call level will be equal to the downside threshold
|
| Initial levels: | 4,739.21 for S&P, 1,913.166 for Russell
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| Downside thresholds: | 3,317.45 for S&P, 1,339.216 for Russell; 70% of initial levels
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 22
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | None
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| Cusip: | 90279WH80
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