Published on 12/18/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5 million trigger autocallables linked to gold miners ETF, Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., Dec. 18 – UBS AG, London Branch priced $5 million of 0% trigger autocallable contingent yield notes with daily close monitoring knock-in due July 5, 2024 linked to the least performing of the VanEck Gold Miners ETF, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 19.85% per year if each asset closes at or above its downside threshold on the observation date for that month.
After six months, the notes will be automatically called at par if each asset closes at or above its call level, 105% of its initial level, on any monthly observation date.
If the notes are not called, the payout at maturity will be par unless any asset closes below its downside threshold during the life of the notes and any asset’s final level is less than its initial level, in which case investors will lose 1% for every 1% that the least performing asset’s final level is less than its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes with daily close monitoring knock-in
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| Underlying assets: | VanEck Gold Miners ETF, Nasdaq-100 index and Russell 2000 index
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| Amount: | $5 million
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| Maturity: | July 5, 2024
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| Coupon: | 19.85% per year, payable monthly if each asset closes at or above downside threshold on observation date for month
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| Price: | Par
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| Payout at maturity: | Par unless any asset closes below downside threshold during life of notes and any asset’s final level is less than initial level, in which case 1% loss for every 1% that least performing asset’s final level is less than initial level
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| Call: | After six months, automatically at par if each asset closes at or above call level on any monthly observation date
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| Initial levels: | $32.35 for ETF, 13,181.35 for Nasdaq and 1,802.484 for Russell
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| Downside thresholds: | $21.03 for ETF, 8,567.88 for Nasdaq and 1,171.615 for Russell, or 65% of initial levels
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| Call levels: | $33.97 for ETF, 13,840 for Nasdaq and 1,892.608 for Russell, or 105% of initial levels
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| Pricing date: | March 31, 2023
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| Settlement date: | April 5, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.95%
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| Cusip: | 90279GBD0
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