Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $2.18 million trigger autocallable contingent yield notes on index, ETFs
By Kiku Steinfeld
Chicago, Feb. 2 – UBS AG, London Branch priced $2.18 million of trigger autocallable contingent yield notes June 25, 2026 linked to the performance of the iShares Biotechnology ETF, the Russell 2000 index and the Real Estate Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at the rate of 9.2% per year if each underlier closes at or above its coupon barrier, 50% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if each underlier closes at or above its initial level on any quarterly call observation date after twelve months.
If the notes are not called and the worst performer finishes at or above the downside threshold level, 50% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying assets: | iShares Biotechnology ETF, Russell 2000 index and Real Estate Select Sector SPDR fund
|
Amount: | $2,178,000
|
Maturity: | June 25, 2026
|
Coupon: | 9.2% per year, paid monthly, if each underlier closes at or above its coupon barrier on related observation date
|
Price: | Par
|
Payout at maturity: | Par plus final coupon if each underlier finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any quarterly call observation date after twelve months
|
Initial levels: | $130.38 for Biotechnology, 1,866.699 for Russell, $36.93 for Real Estate
|
Coupon barrier levels: | $65.19 for Biotechnology, 933.350 for Russell, $18.47 for Real Estate; 50% of initial levels
|
Downside thresholds: | $65.19 for Biotechnology, 933.350 for Russell, $18.47 for Real Estate; 50% of initial levels
|
Pricing date: | June 21, 2023
|
Settlement date: | June 23, 2023
|
Agents: | UBS Securities LLC and UBS Investment Bank
|
Fees: | 0.5%
|
Cusip: | 90279GPR4
|
|
|
© 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.