Published on 4/15/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $11.44 million airbag callable contingent yield notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., April 15 – UBS AG, London Branch priced $11.44 million of airbag callable contingent yield notes due April 14, 2027 linked to the least performing of the Utilities Select Sector SPDR Fund, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly at an annualized rate of 10.65% if the least-performing underlier closes at or above its coupon barrier, 75% of initial level, on the related observation date.
The notes will be callable at par plus any coupon otherwise due on any monthly observation date after three months.
The payout at maturity will be par plus the final coupon unless the final level of the worst performer is less than the downside threshold, 75% of the initial level, in which case investors will lose 1.3333% for each 1% loss of the worst performer beyond the downside threshold.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Airbag callable contingent yield notes
|
| Underlying assets: | Utilities Select Sector SPDR Fund, S&P 500 index, Russell 2000 index
|
| Amount: | $11,441,000
|
| Maturity: | April 14, 2027
|
| Coupon: | 10.65%, payable monthly if least-performing underlier closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless final level of worst performer is less than downside threshold, in which case 1.3333% loss for each 1% loss of worst performer beyond downside threshold
|
| Call option: | At par plus any coupon otherwise due on any monthly observation date after three months
|
| Initial levels: | $65.95 for ETF, 2,080.8 for Russell, 5,209.91 for S&P
|
| Coupon barriers: | $49.46 for ETF, 1,560.6 for Russell, 3,907.43 for S&P; 75% of initial level
|
| Downside thresholds: | $49.46 for ETF, 1,560.6 for Russell, 3,907.43 for S&P; 75% of initial level
|
| Pricing date: | April 9
|
| Settlement date: | April 12
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 0.6%
|
| Cusip: | 90307DAH5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
