Published on 4/12/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.56 million trigger callable contingent yield notes on indexes, ETF
Chicago, April 12 – UBS AG, London Branch priced $3.56 million of trigger callable contingent yield notes due Jan. 23, 2026 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 13.55% if each underlier’s closing level is greater than or equal to its 70% 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 notes are not called and each underlier finishes at or above its 60% 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
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index, SPDR S&P Regional Banking ETF
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| Amount: | $3,558,000
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| Maturity: | Jan. 23, 2026
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| Coupon: | 13.55% per year, payable monthly 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 trigger level, par plus final coupon otherwise, full exposure to the decline of the worst performer from its initial level
|
| Call option: | At par on any quarterly observation date after six months
|
| Initial levels: | $51.03 for banking, 1,944.391 for Russell, 17,314 for Nasdaq
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| Coupon barrier levels: | $35.72 for banking, 1,361.074 for Russell, 12,119.80 for Nasdaq; 70% of initial levels
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| Trigger levels: | $30.62 for banking, 1,166.635 for Russell, 10,388.40 for Nasdaq; 60% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0%
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| Cusip: | 90279WH64
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