Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $613,000 trigger callable contingent yield notes on indexes, ETF
Chicago, Feb. 13 – UBS AG, London Branch priced $613,000 of trigger callable contingent yield notes due June 4, 2025 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the SPDR EURO Stoxx 50 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.15 % if each underlier’s closing level is greater than or equal to its 75% coupon barrier level on the corresponding observation date.
The notes may be called at par on any quarterly observation date after six months.
If the worst performer finishes above its 75% downside threshold level, the payout will be par. 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
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| Issue: | Trigger callable contingent yield notes
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| Underlying assets: | S&P 500 index, Russell 2000 index, SPDR EURO Stoxx 50 ETF
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| Amount: | $613,000
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| Maturity: | June 4, 2025
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| Coupon: | 11.15% per year, payable quarterly if each underlier closes at or above its coupon barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above final barrier level, par plus final coupon; otherwise, full exposure to the decline of the worst performer from its initial level
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| Call option: | At par on any quarterly observation date after six months
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| Initial levels: | $44.82 for ETF, 1,767.292 for Russell, 4,205.52 for S&P
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| Coupon barrier levels: | $33.62 for ETF, 1,325.469 for Russell, 3,154.14 for S&P; 75% of initial levels
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| Trigger levels: | $33.62 for ETF, 1,325.469 for Russell, 3,154.14 for S&P; 75% of initial levels
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| Pricing date: | May 30, 2023
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| Settlement date: | June 2, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90279GLQ0
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