Published on 1/9/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $686,000 trigger callable contingent yield notes linked to three ETFs
New York, Jan. 9 – UBS AG, London Branch priced $686,000 of trigger callable contingent yield notes due June 16, 2027 linked to the worst performing of the VanEck Gold Miners ETF, the iShares Russell 2000 ETF and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 11.25% per year if each ETF closes at or above its coupon barrier, 60% of its initial share price, on the observation date for that month.
After six months, the notes will be callable at par on any monthly observation date.
If the notes are not called and each ETF finishes at or above its downside threshold level, 50% of its initial value, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the worst performing ETF.
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 ETFs: | VanEck Gold Miners ETF, the iShares Russell 2000 ETF and the Technology Select Sector SPDR Fund
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| Amount: | $686,000
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| Maturity: | June 16, 2027
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| Coupon: | 11.25% per year, payable monthly if each ETF closes at or above coupon barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any ETF finishes below downside threshold level, in which case full exposure to decline of worst performing ETF
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| Call option: | After six months, callable at par on any monthly observation date
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| Initial share prices: | $29.55 for VanEck Gold Miners, $187.19 for iShares Russell and $188.29 for Technology Select
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| Coupon barriers: | $17.73 for VanEck Gold Miners, $112.31 for iShares Russell and $112.97 for Technology Select, or 60% of initial share prices
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| Downside thresholds: | $14.78 for VanEck Gold Miners, $93.60 for iShares Russell and $94.15 for Technology Select, or 50% of initial share prices
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| Pricing date: | Dec. 11
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| Settlement date: | Dec. 14
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0%
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| Cusip: | 90279WUZ5
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