Published on 3/10/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $693,000 trigger autocallable contingent yield notes on index, ETFs
By Kiku Steinfeld
Chicago, March 11 – UBS AG, London Branch priced $693,000 of trigger autocallable contingent yield notes due July 2, 2026 linked to the lesser performing of the Technology Select Sector SPDR fund, the Nasdaq-100 index and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.4% if all assets close at or above their coupon barriers, 70% of their initial levels, on the observation date for that month.
The notes will be called at par if all assets close at or above their initial levels on any monthly observation date after six months.
The payout at maturity will be par unless any asset finishes below the downside threshold level, 60% of the initial level, in which case investors will lose 1% for every 1% decline of the worse performing asset.
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
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| Underlying assets: | Technology Select Sector SPDR fund, Nasdaq-100 index, iShares Russell 2000 ETF
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| Amount: | $693,000
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| Maturity: | July 2, 2026
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| Coupon: | 7.4%, payable monthly if all assets close at or above coupon barriers on monthly observation date
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| Price: | Par of $1,000
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| Call: | At par if all assets close at or above their initial levels on any monthly observation date after six months
|
| Payout at maturity: | Par unless any asset finishes below downside threshold level, in which case 1% loss for every 1% decline of the worse performing asset
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| Initial values: | $186.38 for SPDR, 14,939.95 for Nasdaq, $171.14 for iShares
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| Coupon barriers: | $119.80 for SPDR, 10,457.97 for Nasdaq, $130.47 for iShares; 70% of initial values
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| Downside thresholds: | $102.68 for SPDR, 8,963.97 for Nasdaq, $111.83for iShares; 60% of initial values
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| Pricing date: | June 29, 2023
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| Settlement date: | July 5, 2023
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| Underwriters: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.25%
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| Cusip: | 90279GRC5
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