UBS plans trigger callable contingent yield notes linked to indexes

By Sarah Lizee

Olympia, Wash., Sept. 26 – UBS AG, London Branch plans to price trigger callable contingent yield notes with daily coupon observation due Oct. 4, 2024 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 6.75% per year if each index’s closing level is at or above its coupon barrier level, 55% of its initial level, on the observation date for that quarter.

The notes will be callable at par on each quarterly observation date other than the final one after six months.

If the notes are not called and each index finishes at or above its 55% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.

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

The notes (Cusip: 90270KP60) will price on Sept. 27.

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