Published on 6/22/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.03 million trigger callable contingent yield notes on Nasdaq, Russell, Dow
By William Gullotti
Buffalo, N.Y., June 22 – UBS AG, London Branch priced $1.03 million of trigger callable contingent yield notes due June 22, 2026 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 11.1% if each index’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes will be callable at par on any quarterly valuation date.
If the notes are not called and each index finishes at or above its 70% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger callable contingent yield notes
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
|
Amount: | $1,025,000
|
Maturity: | June 22, 2026
|
Coupon: | 11.1% per year, payable monthly if each index closes at or above its coupon barrier on the relevant observation date
|
Price: | Par
|
Payout at maturity: | Par plus the final coupon if each index finishes at or above trigger level; otherwise, full exposure to the decline of the worst performing index from initial level
|
Call option: | At par on any quarterly valuation date
|
Initial levels: | 15,083.92 for Nasdaq, 1,875.467 for Russell, 34,299.12 for Dow
|
Coupon barrier levels: | 10,558.74 for Nasdaq, 1,312.827 for Russell, 24,009.38 for Dow; 70% of initial levels
|
Trigger levels: | 10,558.74 for Nasdaq, 1,312.827 for Russell, 24,009.38 for Dow; 70% of initial levels
|
Pricing date: | June 16
|
Settlement date: | June 22
|
Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | 0.25%
|
Cusip: | 90279GNP0
|
|
© 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.